RBI Governor Says ‘Hardly Any Room’ To Review Action On Paytm Payments Bank

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SUMMARY

RBI Governor Shaktikanta Das reiterated that the central bank takes actions after giving enough time to the regulated entities to correct the deficiencies

Das said the central bank provided Paytm Payments Bank one-month’s time so that customers are not inconvenienced

The governor reiterated that the RBI would come out with FAQs (frequently asked questions) on the matter later this week

Amid the ongoing regulatory crisis at Paytm, following the Reserve Bank of India’s (RBI’s) fresh restrictions on Paytm Payments Bank, the central bank’s governor Shaktikanta Das on Monday (February 12) said there is “hardly any room” to review the action on the payments bank.

Addressing the media, Das reiterated that the RBI takes actions after giving enough time to the regulated entities to correct the deficiencies.

“The decisions taken by the Reserve Bank are taken after due thought process…be it a bank, payment bank or cooperative bank. If we are taking action against somebody, not specifically talking about Paytm, but in general, we interact for months and years…There is hardly any room for review,” he said. 

Das said the central bank provided Paytm Payments Bank one-month’s time so that customers are not inconvenienced. He reiterated that the RBI would come out with FAQs (frequently asked questions) on the matter later this week.

(The story will be updated soon.)




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RBI Governor Says ‘Hardly Any Room’ To Review Action On Paytm Payments Bank

SUMMARY

RBI Governor Shaktikanta Das reiterated that the central bank takes actions after giving enough time to the regulated entities to correct the deficiencies

Das said the central bank provided Paytm Payments Bank one-month’s time so that customers are not inconvenienced

The governor reiterated that the RBI would come out with FAQs (frequently asked questions) on the matter later this week

Amid the ongoing regulatory crisis at Paytm, following the Reserve Bank of India’s (RBI’s) fresh restrictions on Paytm Payments Bank, the central bank’s governor Shaktikanta Das on Monday (February 12) said there is “hardly any room” to review the action on the payments bank.

Addressing the media, Das reiterated that the RBI takes actions after giving enough time to the regulated entities to correct the deficiencies.

“The decisions taken by the Reserve Bank are taken after due thought process…be it a bank, payment bank or cooperative bank. If we are taking action against somebody, not specifically talking about Paytm, but in general, we interact for months and years…There is hardly any room for review,” he said. 

Das said the central bank provided Paytm Payments Bank one-month’s time so that customers are not inconvenienced. He reiterated that the RBI would come out with FAQs (frequently asked questions) on the matter later this week.

(The story will be updated soon.)




Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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