No room to review Paytm decision: RBI
RBI Guv says FAQs on Paytm Payments Bank action will be issued this week
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Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us - Shaktikanta Das, Governor, RBI
New Delhi: Reserve Bank of India Governor Shaktikanta Das on Monday ruled out any review of the central bank’s action against Paytm Payments Bank (PPBL), saying the decision was taken after a comprehensive assessment of the functioning of the lender.
In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after February 29.
“At the moment let me say very clearly there is no review of this (PPBL) decision. If your are expecting a review of the decision, let me very clearly say there is (going to be) no review of the decision,” Das said at a press conference after the 606th meeting of the Central Board of Directors of the Reserve Bank of India (RBI). The meeting was addressed by Finance Minister Nirmala Sitharaman.
Keen on customer protection
To address various issues of customers of beleaguered Paytm Payments Bank Ltd (PPBL), the Reserve Bank will issue a set of FAQs (Frequently Asked Questions) this week.
“Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us,” RBI Governor Shaktikanta Das said after the Finance Minister’s customary address to the central bank’s board.
