Persistent non-compliance led to Paytm action: RBI

Mumbai: Persistent non-compliance by Paytm with the regulatory guidelines despite nudges over a period of time ultimately led to the stern action against the fintech, the RBI said on Thursday and also made it clear that there are no systemic worries.

Without disclosing specific details of what led to the action against the fintech, Governor Shaktikanta Das made it clear that Paytm’s lack of compliance to regulations does not pose a systemic threat.