User complaints spiked at Paytm Payments Bank even before RBI action

Paytm Payments Bank had seen a sharp jump in customer complaints in the last financial year, much before it came under stringent regulatory action, according to the disclosures made by the company.

In the fiscal year ended March 31, 2023, Paytm Payments Bank reported 66,751 complaints across multiple categories, two-and-a-half times more from the previous year when 26,692 complaints were reported. The numbers were 25,988 in FY21 and 14,369 in FY20.