Due to continuous non-compliance and ongoing serious supervisory concerns, PTM Payments Bank is now subject to severe restrictions on its operations by the Reserve Bank of India (RBI), the country's top banking regulator. In-depth analysis of the RBI's order and its ramifications for PTM Payments Bank, its clients, and the larger financial scene are provided in this article. Chronic Non-Compliance - A Record of Negligence Against Regulations: The RBI's ruling draws attention to PTM Payments Bank's history of recurrent non-compliance. The bank disregarded multiple alerts and directives from the regulator regarding crucial matters concerning risk profiling, know-your-customer (KYC) protocols, and customer onboarding. The RBI acted decisively to preserve the integrity of the financial system and safeguard the interests of consumers in response to this flagrant disobedience for regulatory regulations. Image Source : Google Important Points of the RBI's Order - A Comple
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