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:
General Dhiraj Seth has officially assumed the charge as the 31st Chief of the Army…
National News India Signs Google MoU to Boost Tourism Digitally The Ministry of Tourism has…
In April-May FY2026-27, India's fiscal deficit widened sharply to the ₹1.62 lakh crore and it…
The central government of has reappointed Ravi Agrawal as the Chairman of the Central Board…
In the year 2025, India's unemployment rate fell to 3.1% and it is the lowest…
The Ministry of Tourism has signed the Memorandum of Understanding (MoU) with Google India Pvt.…