New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday dominated out any review of the central financial institution’s action against Paytm Payments Bank (PPBL), stating that the choice was made following a complete evaluation. He additional mentioned that RBI shouldn’t be against any fintech however its prime goal is to shield the curiosity of clients and depositors.
Addressing a press convention after the 606th assembly of the Central Board of Directors of the Reserve Bank of India(RBI), Das mentioned, “At the moment let me say very clearly there is no review of this (PPBL) decision. If your are expecting a review of the decision, let me very clearly say there is (going to be) no review of the decision.”
On January 31, RBI took vital action against Paytm Payments Bank (PPBL), instructing the financial institution to stop accepting deposits or top-ups in buyer accounts, wallets, FASTags, and different devices after February 29.
RBI to issue FAQ on Paytm Payments Bank
To help clients dealing with varied points with the troubled Paytm Payments Bank Ltd (PPBL), the Reserve Bank will launch a set of Frequently Asked Questions (FAQs) later this week.
RBI Governor mentioned, “Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us.”
Asked if the deadline of February 29 could be prolonged, Das mentioned, “Wait for the FAQ. Don’t anticipate a review of RBI’s resolution in FAQ. FAQ will address points associated with depositors, clients, pockets customers, FASTag holders. Whatever is within the clients’ curiosity that we’re dealing in FAQ.”
Earlier within the day, Finance Minister Nirmala Sitharaman addressed RBI’s central board of administrators. During the assembly, the Finance Minister highlighted the important thing thrust areas outlined within the interim Union Budget 2024-25 and the expectations from the monetary sector. The administrators complimented the Finance Minister on the Budget and shared their views.
The Board additionally reviewed the worldwide and home financial scenario and outlook, together with the challenges posed by geopolitical developments and international monetary market volatility.
(With PTI inputs)
Also Read: Can you utilize Paytm pockets after February 29? All you want to learn about it
