FIU imposes Rs 5.49 cr fine on Paytm Payments Bank under anti-money laundering law
New Delhi, Mar 1: Financial Intelligence Unit-India (FIU-IND) has imposed a Rs 5.49 crore penalty on Paytm Payments Bank for violating anti-money laundering rules, the Finance Ministry said on Friday.
FIU-IND initiated a review of Paytm Payments Bank on receipt of specific information from law enforcement agencies in respect of few entities and their network of businesses engaged in a number of illegal acts, including organising and facilitating online gambling.
The money generated from these illegal operations, i.e. proceeds of crime were routed and channelled through bank accounts maintained by these entities with the Paytm Payments Bank Ltd, the ministry said.
"The Financial Intelligence Unit-India (FIU-IND),... has imposed a monetary penalty of Rs 5.49 crore on Paytm Payments Bank Ltd with reference to the violations of its obligations under the PMLA (Prevention of Money Laundering Act)," the ministry said.
The FIU passed its order imposing the penalty on February 15.
The FIU action follows RBI's January 31 directive barring Paytm Payments Bank from accepting fresh deposits or credits in the accounts of its customers from February 29. The date was later extended to March 15.
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Vijay unable to prove majority, not invited for CM oath ceremony: Sources
Chennai: Actor-politician Vijay has reportedly not been invited to take oath as Chief Minister of Tamil Nadu after failing to demonstrate support from the required number of MLAs, sources in Raj Bhavan said.
According to media reports that quoted sources in the office of R.N. Ravi Arlekar, Vijay could not prove the backing of 118 legislators, the majority mark in the 234-member Tamil Nadu Assembly.
Despite last-minute efforts to secure support from the Viduthalai Chiruthaigal Katchi (VCK), Amma Makkal Munnetra Kazagam (AMMK), and an IUML legislator, Vijay reportedly managed support from only 116 MLAs, falling short by two members.
Sources said Vijay failed to submit letters of support from the VCK and the Indian Union Muslim League (IUML).
Later, the IUML issued a statement clarifying that it was not part of the TVK-led alliance.
Meanwhile, AMMK leader T.T.V. Dhinakaran is also said to have informed the Governor that his party would support the All India Anna Dravida Munnetra Kazhagam (AIADMK) instead.
Earlier in the evening, Vijay had met Governor Arlekar and staked claim to form the government, stating that he enjoyed the support of 118 MLAs.
