RBI stops Paytm Payments Bank from accepting deposits after Feb 29
Mumbai, Jan 31: The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
The Reserve Bank's action against Paytm Payments Bank Ltd (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors.
These reports revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action, the RBI said in a statement.
"No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashbacks, or refunds which may be credited anytime," it said.
The central bank further said withdrawal or utilisation of balances by its customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards are to be permitted without any restrictions, up to their available balance.
The RBI in March 2022 had directed PPBL to stop onboarding new customers with immediate effect.
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4 killed as SUV rams into truck in Jharkhand's Hazaribag
Hazaribag (PTI): Four people were killed after their SUV rammed into a truck in Jharkhand's Hazaribag district on Saturday, police said.
The accident happened around 6 pm on NH-2 in Danua Valley in the Chouparan police station area, they said.
"The accident happened due to speeding and the SUV driver's attempt to overtake the truck, during which he lost control of the vehicle," said Saroj Kumar Singh, the officer-in-charge of the Chouparan police station.
The deceased are yet to be identified, he said, adding that the car has a Dhanbad registration.
Singh said the impact of the collision was such that the SUV was badly damaged.
"The bodies of the victims were retrieved from the vehicle and sent for post-mortem examination," he said.
