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Union Finance Minister Nirmala Sitharaman during an interaction with Start-Up and Fintech Entities, in New Delhi, on February 26, 2024. | Photo Credit: PTI Finance Minister Nirmala Sitharaman nudged India’s financial sector regulators to hold monthly meetings with fintechs to address their concerns and mooted a day-long workshop with law enforcement agencies for such firms…
Rajeev Chandrasekhar, File. | Photo Credit: Handout E Mail The Reserve Bank’s regulatory action on Paytm Payments Bank has drawn the attention of fintech firms to the importance of complying with laws, Union Minister Rajeev Chandrasekhar has said. The Minister stressed that regulatory compliance cannot be “optional” for companies, rather it is an aspect every…
According to sources, as there is no PMLA scheduled offences involved in the case of PPBL, money laundering investigation cannot be done. File. | Photo Credit: Reuters The Enforcement Directorate (ED) has not found any violation under the Foreign Exchange Management Act (FEMA) during the inquiry of Paytm Payments Bank Limited (PPBL) transactions. The Reserve…
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A QR code for the Paytm digital payment system at a road side stall in Mumbai. | Photo Credit: EMMANUAL YOGINI Reserve Bank Governor Shaktikanta Das on Thursday said there are no systemic worries and the action on Paytm was driven by a “lack of compliance” at Paytm. Deputy Governor Swaminathan J. said the actions…
Read More “RBI says no systemic worries, action on Paytm due to “persisted non-compliance”” »
