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Weeks after RBI told Paytm Payments Bank to stop adding new customers with immediate effect, the uncertainty over lifting of restriction is still maintained.
Paytm founder and CEO, Vijay Shekhar Sharma on Thursday also had a meeting with Reserve Bank of India (RBI) officials on the issue. However, the discussion in the meeting is still not out in media.
RBI had earlier directed the payments bank to stop adding new customers in July end.
After that, CEO of Paytm Payments Bank, Renu Satti resigned from the post to lead a new role as the chief operating officer of an upcoming retail arm of one97 communications. Satti served about 14 months as a CEO of the bank.
In the past months, the RBI has become very strict against payments banks. It wants payments banks to follow the Know Your Customer (KYC) process for customers. Besides, it wants them to meet the same standards of data privacy and security as followed by other banks.
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