Paytm Payments Bank may lose license for flouting RBI's norms
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The Reserve Bank of India (RBI) is reportedly contemplating revoking the banking license of Paytm Payments Bank Limited (PPBL). It will be for the first time in over two decades that the banking regulator would take such action. As reported by Hindu Business Line, this decision could stem from multiple instances of failed due diligence by Paytm's banking division.