Technology

RBI bars Paytm Payments Bank from adding new accounts

RBI bars Paytm Payments Bank from adding new accounts

The Reserve Bank of India barred Paytm Payments Bank, founded by One 97 Communications Ltd's. Vijay Shekhar Sharma, from accepting new customers, pending a comprehensive audit of its information-technology systems. "This action is based on certain material supervisory concerns observed in the bank," the central bank, which is also the regulator of the nation's banking sector, said in a statement on Friday.

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