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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 21-NOV-2024

PAYMENT SYSTEM OPERATORS (NON-BANK): DID NOT TAKE LIVE PHOTOGRAPHS OF CUSTOMERS CAPTURING WATER-MARK IN READABLE FORM, CAF NUMBER, GPS COORDINATES, AUTHORIZED OFFICIAL’S NAME, UNIQUE EMPLOYEE CODE (ASSIGNED BY RE), DATE AND TIME STAMP WHILE CARRYING OUT DIGITAL KYC

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person PAYTM PAYMENTS BANK LTD.
  DID NOT OBTAIN NECESSARY DOCUMENTS REGARDING NATURE AND PROOF OF BUSINESS

DID NOT TAKE LIVE PHOTOGRAPHS OF CUSTOMERS CAPTURING WATER-MARK IN READABLE FORM, CAF NUMBER, GPS COORDINATES, AUTHORIZED OFFICIAL’S NAME, UNIQUE EMPLOYEE CODE (ASSIGNED BY RE), DATE AND TIME STAMP WHILE CARRYING OUT DIGITAL KYC

ISSUED DEMAND DRAFTS EACH FOR VALUE OF RUPEES FIFTY THOUSAND AND ABOVE WITHOUT INCORPORATING NAME OF THE PURCHASER ON THE FACE OF IT

MADE PERSISTENT CALLS TO SOME OF THE CUSTOMERS

DID NOT PUT IN PLACE MECHANISM TO ENSURE INTEGRITY OF CRITICAL FILE OF APPLICATIONS, DATABASES AND OPERATING SYSTEMS

RECOVERED SMS ALERT CHARGES FROM CUSTOMERS, NOT ON ACTUAL USAGE BASIS   		IMPOSED PENALTY RS.5,39,00,000

10-OCT-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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