This Article is From Feb 03, 2024

Did Paytm Payments Bank Launder Money? Enforcement Directorate To Probe

RBI ordered the payments bank unit of One 97 Communications, popularly known as Paytm, to stop accepting fresh deposits in its accounts.

Advertisement
Business News

India's financial crime fighting agency will probe Paytm Payments Bank if any fresh charges of fund siphoning are found, Revenue Secretary Sanjay Malhotra told Reuters on Saturday.

The Reserve Bank of India (RBI) on Wednesday ordered the payments bank unit of One 97 Communications, popularly known as Paytm, to stop accepting fresh deposits in its accounts or popular wallets from March.

"If there are any fresh charges of money laundering against Paytm by RBI, those will be investigated by Directorate of Enforcement as per the law of the land," said Malhotra.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Featured Video Of The Day

Startups May Add $120 Billion To India's GDP By 2030: Study

Advertisement