Question

In March 2022, which bank did RBI direct to stop onboarding new customers?

• A. Airtel Payment Bank
• B. Ujjiwan Small Finance Bank
• C. AU Small Finance Bank
• D. Paytm Payments Bank

Answer 1

Answer:

D. Paytm Payments Bank

In March 2022, the Reserve Bank of India directed Paytm Payments Bank to stop onboarding new customers due to regulatory concerns. In March 2022, the Reserve Bank of India (RBI) directed Paytm Payments Bank to stop onboarding new customers due to supervisory concerns. The RBI also instructed the bank to appoint a certified IT audit firm to conduct a comprehensive system audit of its IT infrastructure.