RBI action against Paytm will hit ordinary Indians most: Cong slams govt
Hitting out at the government after the RBI action against Paytm Payments Bank, the Congress on Thursday said the order will hit ordinary Indians the most and asked why the firm with Chinese links had not been kept under stricter monitoring. In a major action against Paytm Payments Bank (PPBL), the Reserve Bank on Wednesday directed the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. However, any interest, cashbacks, or refunds may be credited back to customers anytime. "No other banking services, other than those...like fund transfers (irrespective of name and nature of services like AEPS, IMPS, etc), BBPOU and UPI facility should be provided by the bank after February 29, 2024," the RBI added. In a post on X, Congress general secretary Jairam Ramesh said, "The last 10 years under PM Modi have brought only chaos to the banking system." "First, the disastrous demonetisation decision, taken without any
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