Paytm Bank didn’t comply on multiple parameters: Das

The Reserve Bank of India (RBI) on Thursday stoutly defended its January 31 action on Paytm Payments Bank (PPB) by saying that the bank had compliance issues across various parameters, and not just KYC.

RBI Governor Shaktikanta Das, at the post-monetary policy committee (MPC) conference, said, “The regulations are there in place and are robust. It is not a case where there was regulatory deficiencies or regulatory correction required. It is an issue of non- compliance with various parameters, not just KYC,” he said.