Paytm payments bank expects central bank curbs to be lifted in three-five months
India’s Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters. In March, the Reserve Bank of India ordered a comprehensive audit of the company’s IT systems, citing “material” supervisory concerns, without elaborating further, and barring it from taking on new customers. “The process is underway and we think it should take three to five months from where we are right now,” Madhur Deora, group chief financial officer, Paytm, told Reuters on Sunday.
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