RBI Enforces Digital Interoperability Law, Bans Paytm Payments: A New Dawn With A Compliance DilemmaWhat Are Payments BanksDetails Of The BanImplications Of The Ban On Paytm PaymentsCompliance Challenges In The Fintech SectorLooking Ahead: Future Of Digital Paymentshttps://bfsi.economictimes.indiatimes.com/news/policy/rbi-bans-paytm-payment-bank-from-onboarding-customers-due-to-non-compliance-issues/107297899https://www.business-standard.com/finance/personal-finance/explained-how-the-rbi-ban-on-paytm-impacts-you-124020100200_1.htmlhttps://timesofindia.indiatimes.com/gadgets-news/paytm-payments-bank-rbi-ban-can-you-port-wallet-fastags-and-other-key-questions-answered/articleshow/107315435.cmshttps://rbidocs.rbi.org.in/rdocs/Publications/PDFs/86706.pdfhttps://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR1926ACTIONAGAINSTPAYTMPAYMENTSBANK08B8389D22B849E0A0E10AA2C0606E76.PDFhttps://prsindia.org/files/policy/policy_committee_reports/1389355167_Nachiket%20Mor%20Comm%20Report.pdfhttps://www.indiacode.nic.in/show-data?actid=AC_CEN_2_11_00002_194910_1517807317779§ionId=19228§ionno=22&orderno=33https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR1774PPBLBEDADC47266E41F7A65307C63180E2B1.PDFhttps://www.business-standard.com/companies/news/paytm-payments-bank-rbi-controversy-how-will-it-impact-the-customers-124020901485_1.htmlhttps://cleartax.in/s/is-paytm-banned-in-indiahttps://www.business-standard.com/finance/personal-finance/explained-how-the-rbi-ban-on-paytm-impacts-you-124020100200_1.htmlhttps://economictimes.indiatimes.com/markets/stocks/news/how-will-rbis-ban-impact-paytm-here-are-key-takeaways/30-dent-on-revenue/slideshow/107333113.cmshttps://economictimes.indiatimes.com/markets/stocks/news/how-will-rbis-ban-impact-paytm-here-are-key-takeaways/-how-to-trade-stock-now/slideshow/107333010.cmshttps://www.globallegalinsights.com/practice-areas/fintech-laws-and-regulations/india/#_edn68https://bfsi.economictimes.indiatimes.com/news/policy/rbi-bans-paytm-payment-bank-from-onboarding-customers-due-to-non-compliance-issues/107297899?utm_source=copy&utm_medium=psharehttps://rbidocs.rbi.org.in/rdocs/Publications/PDFs/86706.pdfhttps://paytm.com/document/ir/investor-events/Update_on_RBI_direction_to_PPBL_Feb_2024.pdfThe Reserve Bank of India (RBI) has banned Paytm Payments Bank from onboarding new customers due to non-compliance issues. This means that Paytm Payments Bank has been barred from accepting fresh deposits and carrying out credit transactions for consistently flouting RBI guidelines. Additionally, the RBI also issues guidelines and circulars related to Paytm payments, which must be complied with by all payment system operators in the country. Under the Payment and Settlement Systems Act 2007, the Reserve Bank of India (RBI) has the authority to regulate and supervise payment systems in the country. Digital payment and digital lending have emerged as the focal points for investment within the fintech sector.

Source: Economic Times May 23, 2024 07:26 UTC