RBI imposes Rs 1 crore fine on Paytm Payments Bank

  • RBI said the information submitted by Paytm payments bank for the issue of final Certificate of Authorisation did not reflect the factual position.
  • Updated: Oct 20, 2021, 07:35 PM IST. The Reserve Bank of India has imposed a monetary penalty worth Rs 1 crore on Paytm Payments Bank for violating its guidelines.
  • In a press statement, the central bank said that the fine is related to an offence committed of the nature referred to in Section 26 of Payment and Settlement Systems Act, 2007.
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