Reserve Bank earlier said that the particular action is against Paytm Payments Bank and is not to be confused with Paytm App...The app is not impacted by this action.
National Payments Corporation of India shared the information on social media platform X saying its systems are working fine and the entity is working with these banks to ensure quick resolution
Paytm said PPBL is taking immediate steps to comply with RBI directions, including working with the regulator to address their concerns as quickly as possible
The Reserve Bank's action against Paytm Payments Bank Ltd (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors
Japanese multinational investment firm SoftBank's stake in One97 Communications was close to 7.01 percent last year, which has now decreased to 5.06 percent after this sale
