Tag: Vijay Shekhar Sharma

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.

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