The Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on Paytm Payments Bank Limited (PPBL) over certain specified violations, as referred in Section 26 (2) of the Payment and Settlement Systems Act, 2007. RBI observed that the information submitted during Paytm Payments Bank’s application for the issue of the final Certificate of Authorisation (CoA) did not reflect the factual position.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
It has also penalised Western Union Financial Services by imposing a penalty of Rs 27.8 lakh for violating the prescribed limit of remittances per year.
Important takeaways for all competitive exams:
The Uttarakhand Tourism Development Board has teamed up with Starscapes, an astro-tourism company, to introduce…
In a gesture of solidarity and recognition, Palestinian journalists covering the crisis in Gaza have…
Retired Justice Sanjaya Kumar Mishra has been appointed as the President of the Goods &…
Atanu Chakraborty's re-appointment as part-time Chairman of HDFC Bank for three years, effective from May…
American Express is set to inaugurate its expansive new campus in Gurugram, spanning nearly one…
In the latest edition of the World Press Freedom Index published annually by Reporters Without…