Paytm* Payments Bank, as we know it, is set to die.
On Wednesday, 31 January, the Reserve Bank of India ordered the six-year-old payments bank to halt its business. The banking regulator was done offering more chances to Paytm Payments Bank; it had crossed the line drawn by the RBI at least
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The Ken
Inside the Paytm Payments Bank fiasco
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five
The Ken
Inside the Paytm Payments Bank fiasco
times since it became operational in 2017.
Unlike other warnings in the past, the regulator’s words had a finality to them. It offered no room for remedy. “It’s an unusual death sentence,” said Sankarson Banerjee, a technology consultant to…
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Source: https://the-ken.com/story/rbi-issues-a-death-sentence-to-paytm-payments-bank/