The Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its consumers after almost six months of the ban.
Paytm Payments Bank stopped enrolling new customers in June 2018, following an audit by the RBI, which made certain observations about the process the company follows in acquiring new customers and its adherence to know-your-customer (KYC) norms.
Source: The Economic Times
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- Satish Kumar Gupta is the managing director and CEO of the Paytm Payments bank.