The Reserve lender of India today said that the clampdown on Paytm Payments lender was a result of persistent non-compliance of the regulator’s norms. RBI Deputy Governor Swaminathan J said that they are monitoring Paytm Payments lender and will take suitable steps as warranted going forward.
Addressing the media, RBI Governor Shaktikanta Das also said the strict action was taken keeping in mind the gravity of the violation.
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