No review of action against Paytm Payments Bank: RBI gov Shaktikanta Das

Reserve Bank of India (RBI) governor Shaktikanta Das on Monday ruled out any review of the central bank’s action against Paytm Payments Bank Ltd (PPBL), saying the decision was taken after a lot of consideration and a comprehensive analysis of the lender’s functioning.

The RBI on 31 January directed PPBL to stop accepting deposits or top-ups in customer accounts, wallets, FASTTags and other instruments after 29 February citing large scale non-compliance of regulations and supervisory concerns.

“At the moment let me say very clearly, there is no review of this decision. If you are expecting a review of the decision, let me very clearly say there is no review of the decision and nothing is on the table," Das said at a press conference after a meeting of the RBI’s central board of directors. The meeting was also addressed by finance minister Nirmala Sitharaman.