Big Blow To Paytm Payments Bank

The days of Paytm, a leading digital payment service provider in the country, are not going well. Since its listing in the stock market, the process of breaking its shares continues, due to which the investors are suffering huge losses. On the other hand, the Reserve Bank of India has given another big blow to the company on Friday. Actually, RBI has banned Paytm Payments Bank from adding new customers.

Order to conduct IT audit

The central bank has also ordered to conduct IT audit of Paytm Payments Bank. Let us tell you here that IT audit means that the company’s IT infrastructure i.e. software is capable of bearing the burden of so many customers, what are the flaws in it and why they are coming, all these will be investigated. In a statement issued by the Reserve Bank of India, it was said that Paytm Payments Bank will now have to first take the permission of RBI to add new customers. It said that the central bank will review it after getting the IT audit reports. The bank will be allowed to add new customers only after review.