Paytm Payments Bank Expects India's Central Bank To Ease Regulatory Curbs On It Soon
What Happened: Earlier in March, the Reserve Bank of India barred the company from taking on new customers and ordered a comprehensive audit of the Paytm Payments Bank's IT systems, citing "material" supervisory concerns, without elaborating further.
In an interview with Reuters,
"The process is underway, and we think it should take three to five months from where we are right now."
Earlier, Paytm CEO
Payt received backing from the likes of
Recently the Chinese billionaire
Paytm made its debut on the Indian exchanges in November last year in one of the biggest-ever initial public offerings in the country. However, the shares have since sunk 70%.
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