Business Standard

Paytm payments bank expects RBI curbs to be lifted in 3-5 months: Executive

The bank is working with the RBI to complete the IT audit and address the regulator's concerns, says Madhur Deora.

Photo: Bloomberg
Premium

Photo: Bloomberg

Reuters Mumbai
India's Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters.

In March, the Reserve Bank of India ordered a comprehensive audit of the company's IT systems, citing "material" supervisory concerns, without elaborating further, and barring it from taking on new customers.

The bank is working with the RBI to complete the IT audit and address the regulator's concerns. "The process is underway and we think it should take three to five months from where we

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 22 2022 | 7:12 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com