Paytm Payments Bank / Axis Bank is ready to work with Paytm, but there is a problem on this matter

Paytm Payments Bank: Paytm Payments Bank's crisis is not showing signs of abating. RBI Governor Shaktikanta Das had said while talking to the media on Monday that there is no scope for reconsideration against the Payment Bank (PPBL). Earlier there was news that efforts are being made by Paytm to keep the UPI service running. Parent company One 97 Communications can shift the Paytm application to a third party. The company's objective behind doing this is to ensure that its users continue to get UPI service.

The action taken against PPBL was justified

Now Axis Bank MD and CEO Amitabh Chaudhary said that if RBI gives approval then the private sector bank is ready to work with Paytm. Chaudhary said during an event that if RBI allows us (Axis Bank) to work with Paytm, then we will work with them (Paytm). This statement of Chaudhary has come on the day when RBI Governor Shaktikanta Das has justified the action taken against PPBL and called it a well-considered decision.

Manju Aggarwal resigns from the board due to personal reasons

Das said during a press briefing that RBI does not take any action against anyone without investigation. The Central Bank takes action against any bank only when it collects sufficient evidence against it. Even after continuous alerts, if the bank repeats old mistakes again and again, action is taken. On the other hand, One97 Communications Limited, the company that operates Paytm, said that Manju Aggarwal, independent director of Paytm Payments Bank, has resigned from the board due to personal reasons.

RBI imposed restrictions on Paytm Payments Bank on January 31

Let us tell you that RBI had imposed various restrictions on Paytm Payments Bank Limited (PPBL) on January 31. Paytm Payment Bank has been asked to stop accepting deposits or top-ups in customer accounts, wallets, Fastag and other instruments after February 29. Agarwal resigned a day after this instruction. The stock market had sought clarification from Paytm regarding his resignation.

In the information given by Paytm to the stock market, it was said, 'PPBL has informed us that Independent Director Manju Aggarwal has resigned from the Board of Directors on February 1, 2024 due to her personal commitments. It was registered by the Board of Directors of PPBL on February 6, 2024. Apart from Agarwal, Paytm Payments Bank's Independent Director Shinjini Kumar has also resigned from the Board of Directors on February 1. PPBL has not given any answer to the questions sent by the media in this regard.