Question
What is the penalty amount imposed by the Reserve Bank
of India (RBI) on Paytm Payments Bank for non-compliance with KYC directions, cybersecurity guidelines, and payments banks regulations?Solution
The RBI has imposed a penalty of Rs 5.4 crore on Paytm Payments Bank for not complying with KYC directions and other guidelines pertaining to cybersecurity and payments banks. RBI had conducted a special scrutiny from a KYC/AML (anti-money laundering) perspective.
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