RBI’s Paytm crackdown signifies increases scrutiny on India banks

The central bank suspended Paytm’s banking affiliate, citing lapses in customer verification. India’s financial sector faces rising regulatory concerns amid a spate of fraud cases. RBI is expected to toughen its stance, illustrating the urgency to strengthen risk management in banks and shadow lenders. The crackdown on Paytm has sparked concerns and the company is in talks with RBI to address regulatory issues.

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