Accordingly the Reserve Bank of India has since lifted the restriction it had imposed on Paytm Payments Bank. Recently Paytm has now announced that it will resume its KYC process effective December 31. Meanwhile it may be recalled that the RBI had stepped in when Paytm Payments Bank started opening accounts for their customers after obtaining the license for operating a payments bank.
Furthermore at that time, the regulator found that the organization had been in violation of certain norms imposed under the licensing terms of the payments bank. Apparently Paytm was converting its customers in the Paytm wallet into the bank account holders and these customers were being offered a few privileges to make purchases on its ecommerce platform Paytm Mall.
Moreover Paytm has already managed to open 42 million accounts and plans to take it past 100 million by the end of the year 2019. Reports added the company had been running its digital Paytm wallet for some time before it launched the Payments bank and then converted the wallet account holders into the bank’s customers. Hence it reflects in the financial figures of the bank as well. Of the Rs 144 crore deposits in its books, a large portion has come from the wallet.
BJP Cheap Trick to Defeat Rahul Gandhi in Wayanad Congress President Rahul Gandhi’s decision to contest Lok Sabha polls from Wayanad in Kerala drew the attention of the country to the constituency. Rahul is already contesting from his Amethi constituency against Smriti Irani. But then, Rahul Gandhi is up against four other Gandhis who contested for the same seat.
- AP IAS Association Sensing Chandrababu Coming to Power
- Bengaluru, the cheapest Asian City!
- 50:50 chances of Priyanka Gandhi contesting from Varanasi: Sources
- Janasena Damaged TDP in 35 Seats?
- After 14 years this Coimbatore Govt School gets power supply
- Congres Vijender Singh flexes biceps after being asked on BJPs dhai kilo ka haath
- KCR Does Damage Control in Inter Board Fiasco
- JKLF chief Yasin Malik sent to judicial custody till May 24, Mehbooba demands release
- Chandrababu To Unleash Operation Akarsha If Short of Majority
- Never Ever use FREE WIFI anywhere, It's pretty dangerous
- Actor Dileep asks for Stay in Actress Assault case
- Stampede kills 7 people in TN!
- Denmark's Richest Billionaire lost his Children during Srilanka Blasts
- Husband kills wife and sends photo in Whatsapp!
- #TikTok BAN REMOVED...