Samachar App

The RBI has cancelled the licence of Paytm Payments Bank over serious compliance violations and governance concerns. The bank can no longer provide banking services and the central bank will move the High Court for its closure. New Delhi: In a major regulatory move, the Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank. The central bank confirmed the decision in an official statement, stating that the bank will no longer be allowed to offer banking services. The action has been taken due to serious concerns related to regulatory compliance and violations of norms. The RBI also assured that necessary steps will be taken to safeguard customer interests and ensure that deposits and services are not adversely affected. Why was the licence cancelled? According to the RBI, the bank's operations were being conducted in a manner that was detrimental not only to the institution but also to its customers. This was found to be in violation of Section 22...

  The Reserve Bank of India has taken a big decision on the biggest currency note of 2000 rupees. The Reserve Bank of India has advised banks to stop issuing Rs 2000 notes with immediate effect. RBI said that these notes will remain in circulation till 30 September. The Reserve Bank of India has taken a big decision on the biggest currency note of 2000 rupees . RBI has announced the withdrawal of Rs 2000 notes issued after the demonetisation of 2016. However, the 2000 notes present in the market will remain in circulation for the time being. The Reserve Bank of India has advised the country's banks to stop issuing new Rs 2000 notes to customers. The Reserve Bank has taken this decision under the 'Clean Note Policy'. 2000 rupee notes can be deposited in the bank till 30 September 2023. According to the Reserve Bank, from May 23, 2023, Rs 2000 notes can be exchanged for notes of other denominations at a time in any bank. Note exchange limit is Rs 20,000. That is, 20000 rupee ...