Will RBI review its action against Paytm Payments Bank? Shaktikanta Das says…

Reserve Bank of India governor Shaktikanta Das on Monday made it clear that the central bank will not review its action against Paytm Payments Bank, while adding that the action was taken after a comprehensive assessment of the functioning of the lender.

"At the moment let me say very clearly there is no review of this (PPBL) decision. If your are expecting a review of the decision, let me very clearly say there is (going to be) no review of the decision," PTI quoted the governor as saying at a press conference after the meeting of the Central Board of Directors of the Reserve Bank of India.

Reserve Bank of India (RBI) Governor Shaktikanta Das(PTI)

The meeting was addressed by Union finance minister Nirmala Sitharaman. The RBI governor said that the bank is supportive of the fintech sector and added that it is also committed to ‘ protect the interest of customers as well as ensure financial stability’.