Paytm's oversight lapses on politically exposed people forced RBI's hand
Fri, Feb 9, 2024 1:03 PM

Paytm's oversight lapses on politically exposed people forced RBI's hand

A Flip by Shubhangi Gupta
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Paytm Payments Bank failed to address RBI's warnings about gaps in risk management, specifically in monitoring transactions involving politically exposed persons. The bank lacked proper systems for PEP due diligence and filing of Suspicious Transaction Reports. While the observations were not targeted at any specific individual, they raised concerns about overall risk management at the bank.

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