Govt Fines Paytm Bank ₹5.49 Crore for Violating Anti-Money Laundering Rules

Paytm Payments Bank faces a ₹5.49 crore fine from FIU-IND for violating anti-money laundering rules, as entities associated with the bank were found engaged in illegal activities like online gambling. The fine, imposed after a compliance show cause notice, follows RBI’s directive barring fresh deposits in Paytm accounts. Paytm clarified that the penalty relates to a discontinued business segment, while its parent company, One97 Communications Ltd, saw shares rise 5% after announcing the discontinuation of inter-company pacts with Paytm Payments Bank to reduce dependencies.

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