RBI bars Paytm Payments Bank from onboarding new customers
Paytm Payments Bank has also been directed to appoint an audit firm to conduct a comprehensive audit of its IT system.
India's central bank, the Reserve Bank of India (RBI) said on Friday it has directed Paytm Payments Bank to stop taking on new customers with immediate effect, citing "material" supervisory concerns observed in the bank.
The bank has also been directed to appoint an audit firm to conduct a comprehensive audit of its IT system, the RBI said in a statement.
Paytm Payments Bank would be able to onboard new customers subject to specific permission from the RBI after reviewing the IT auditor's report/