RBI imposes Rs 5.39 crore penalty on Paytm Payments Bank

The Reserve Bank of India (RBI) has imposed a penalty of Rs 5.39 crore on Paytm Payments Bank for non-compliance with KYC norms and other provisions. The bank failed to identify beneficial owners, monitor transactions, and breached the regulatory ceiling of end-of-day balances. The penalty is based on deficiencies in regulatory compliance and does not question the validity of any transactions.

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