RBI, however, did not name the card network but said that only one card network has operationalised this arrangement of enabling businesses to make card payments through certain intermediaries to entities that do not accept card payments.
RBI Governor Shaktikanta Das said that RBI will soon issue a set of Frequently Asked Questions (FAO) targeting inconveniences and difficulties being faced by customers and depositors.
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.
An uphill task and a migration nightmare await the fintech giant as it must retain a customer base which chose the platform for the USP that it no longer has
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
