Action against Paytm bank was in customers’ interest: RBI

On January 31, RBI said that a Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliances and continued material supervisory concerns in Paytm Payments Bank Ltd. Based on that, the central bank imposed various restriction on the bank. Das reiterated that the action on Paytm company should only be seen as an action for the greater interest of customers.