RBI unlikely to extend Paytm Bank’s deadline : The Tribune India

Join Whatsapp Channel

RBI unlikely to extend Paytm Bank’s deadline

RBI unlikely to extend Paytm Bank’s deadline

Representative image/Reuters file



Tribune News Service

New Delhi, February 8

The Reserve Bank of India has indicated that it may not accede to Paytm’s request to extend the deadline for shutting down its ban’s operations by February 29.

However, given the confusion among customers for Paytm’s popular wallet, RBI chief Shaktikanta Das said all questions and clarifications would be addressed next week.

Meanwhile, addressing the doubt among the large number of Paytm users for a wide range of digital payment services, RBI Deputy Governor J Swaminathan said, “The action is against Paytm Payments Bank, not against the Paytm app. The app is not impacted by our action.”

Indications about RBI’s disinclination to extend February 29 deadline for Paytm Bank to cease operations came from Swaminathan who said the action was taken for "persistent noncompliance”.

About The Author

The Tribune News Service brings you the latest news, analysis and insights from the region, India and around the world. Follow the Tribune News Service for a wide-ranging coverage of events as they unfold, with perspective and clarity.

#Reserve Bank of India RBI


Top News

Arvind Kejriwal’s judicial custody extended till July 3 in money laundering case

Arvind Kejriwal’s judicial custody extended till July 3 in money laundering case

During the hearing, the counsel appearing for Kejriwal oppos...

Rajya Sabha MP's daughter driving BMW runs over man sleeping on footpath in Chennai, gets bail

Rajya Sabha MP's daughter driving BMW runs over man sleeping on footpath in Chennai, gets bail

Daughter of Jagan Reddy's party MP was arrested but granted ...


Cities

View All