Paytm Payments Bank faces scrutiny from RBI as the board reshuffle may not influence the regulator. Startups, including fintechs, are engaging with RBI to enhance understanding of regulations. DPIIT Secretary emphasizes the importance of compliance with laws for startups and the need for regular interactions with regulatory bodies like RBI. Sources reveal that RBI's directives to NPCI regarding Paytm were aimed at benefiting customers rather than the company itself.
ET NOW Exclusive | RBI not trying to regulate unregulated entities RBI's directions to NPCI for examining request of Paytm was to give relief to customers, not company @ankurmishrasays https://t.co/nSnxhfWEWj
Sources Say | RBI not trying to regulate unregulated entities RBI's directions to NPCI for examining request of Paytm was to give relief to customers, not company https://t.co/duZRGO45Je
"Paytm Payments Bank was given adequate opportunity," DPIIT Secretary Rajesh K Singh tells @ShereenBhan, adding that startups often do not take the concept of compliance with laws seriously #PaytmPaymentsBank #Paytm #DPIIT #Startups https://t.co/x5v1PjAZDn
‘Startups move very fast & compliance with laws often not taken seriously. Fintechs want to understand regulations better, have now setup monthly meetings with @RBI ; received feedback on not penalising companies for technical non compliance @DPIITGoI Secy to me @CNBCTV18Live https://t.co/rL2TiHzMbd
Paytm Payments Bank board rejig unlikely to sway RBI, say bankers By @AnandJRAnand https://t.co/NT8ICWMPLo via @moneycontrolcom