Tag: Paytm

Embattled Indian Paytm Payments Bank Fined Rs 5.49 Crore for Violating Anti-Money Laundering Norms!

Compliance Charlene Lensburg - March 4, 2024

The embattled Paytm Payments Bank Ltd. (PPBL), a key player in India's digital banking sector, has been hit with a not really financial penalty for non-compliance with anti-money laundering regulations. The Reserve Bank of India (RBI)'s Financial Intelligence Unit (FIU) has levied a fine of Rs 5.49 crore against the bank after discovering that it was used to channel funds derived from criminal activities.

Indian FinTech Paytm Faces Mounting Regulatory Challenges!

Compliance Payment Contributor - February 14, 2024

Paytm Payments Bank, a branch of the leading Indian fintech giant Paytm, finds itself in the throes of regulatory scrutiny as a case under the Foreign Exchange Management Act (FEMA) has been initiated against it. This development comes amidst allegations of violations related to foreign exchange rules, marking yet another hurdle for Paytm in a series of regulatory challenges. Paytm is part of the public-listed Indian fintech group One97 Communications Ltd.

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