Google News
logo
Daily Current Affairs
Recently, RBI imposed Rs 1 crore monetary penalty on which payments bank for violating norms?
A)
Paytm Payments Bank
B)
Jio Payments Bank
C)
Airtel Payments Bank
D)
None of the above

Correct Answer :   Paytm Payments Bank


The RBI has imposed a monetary penalty of ₹1 crore on Paytm Payments Bank (PPBL) and ₹27.78 lakh on Western Union Financial Services Inc (WUFSI).
 
RBI said the monetary penalty on PPBL has been imposed for an offence under the Payment and Settlement Systems Act, 2007 (PSS Act).

Published On : October 22, 2021
Advertisement