RBI cancels the Licence of Paytm Payments Bank

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Consequently, Paytm Payments Bank Limited is prohibited from conducting the business of ‘banking’ or any additional business with immediate effect and RBI will make an application for winding up of the bank before the High Court. Paytm Payments Bank has enough liquidity to repay its entire deposit liability upon winding up of the bank, RBI […]

Source: Industrial Economist
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