The Reserve Bank of India (RBI) has imposed a penalty of Rs 5.39 crore on Paytm Payments Bank for non-compliance with KYC norms and other provisions. The RBI found that the bank failed to identify beneficial owners of entities providing payout services and did not monitor payout transactions or carry out risk profiling.
from Banking/Finance-Industry-Economic Times https://ift.tt/zs9VqXu
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