RBI Governor Says Hardly Any Room To Review Action Taken Against Paytm Payments Bank

Reserve Bank of India Governor Shaktikanta Das on Monday said there was "hardly any room" to review the action taken against Paytm Payments Bank.

In a major action against Paytm Payments Bank (PPBL), RBI, on Jan. 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after Feb. 29.

Talking to reporters in the national capital on Monday, Das said there was "hardly any room" to review the action taken against Paytm Payments Bank.

He also said that RBI takes action against regulated entities only after a comprehensive assessment.

While emphasising that RBI is supportive of the fintech sector, Das said it is also committed to protect the interest of customers as well as ensure financial stability.

The central bank is expected to soon issue a set of FAQs (Frequently Asked Questions) on the Paytm matter.