Paytm was given sufficient time, action after persistent non-compliance: RBI
The Reserve Bank said that Paytm was given sufficient time for compliance with the norms.
The Reserve Bank said that Paytm was given sufficient time for compliance with the norms.
It is proposed to streamline the onboarding process, including mandatory due diligence, for AePS touchpoint operators, to be followed by the banks, the Governor said.
RBI Governor Shaktikanta Das attributed comfortable inflation and firm growth dynamics as the reasons behind keeping the repo rate unchanged.
The RBI has also terminated the nodal accounts of One97 Communications Ltd., the parent company of Paytm, and Paytm Payments Bank Ltd.
The visit of Dr Raghuram Rajan, a former Governor of Reserve Bank of India, and a former Chief Economic Advisor, has generated a great deal of controversy.
With the Reserve Bank of India's Inter-Departmental Group having expressed the view that the rupee possesses the potential of evolving into a global currency in the wake of India's resilient economic growth amid global challenges, the potential of such a development is significant for India's economic growth and international standing.
The RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors.
The promise was of 10 million new jobs every year and, ironically, the labour ministry’s own data has exposed the vacuousness of the promise, with virtually nothing by way of “real-time data on job creation” that the government claims.
Oddly enough, India's improved ranking coincides with an extraordinary discord within the premier investigative agency called the Central Bureau of Investigation and between the Centre and the Reserve Bank of India. Fringe elements in the political spectrum have disrupted business activity in Gujarat, Maharashtra and elsewhere, upsetting free movement of labour.
Administrative inaction and sabotage of criminal investigation even in cases of corruption are distressing features of governance at the State level. Citizens' rights are trampled upon without any accountability. Public representatives assault public officials with impunity and get away without political or legal accountability. Abuse of public office in administrative matters like transfers, promotions, disciplinary action, in appointments to corporations, committees, commissions, boards is rampant.
