Shaktikanta Das, Governor of the Reserve Bank of India, said on Monday, February 12, 2024, that there will be no audit of Paytm Payments Bank (PPB) for violation of the ban due to the decision to provide the best benefit to the customers.
The Governor added that PPB’s Frequently Asked Questions (FAQs) will be released within this week to answer customers’ queries regarding FASTag, wallet, and money to be stored. On January 31, the Reserve Bank of India noted “ongoing non-compliance and significant supervisory issues” for PPB. The Reserve Bank of India (RBI) had earlier asked PPB to halt most of its operations, including deposits, credit facilities, and digital wallets, by February 29. For the case filed against Reserve Bank of India Paytm (RBI), PPB will now allow interest to be deposited at any time on all customer accounts, prepaid devices, wallets, FASTag, and NCMC cards after February 29, allowed to make additional deposits or credits or top-ups that did not include discounts or refunds.
