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ED has not found forex breaches at Paytm bank unit
Mint Mumbai
|February 20, 2024
An investigation into possible foreign exchange bank by the Enforcement Directorate (ED) has not yet found any breaches, a government official directly aware of the matter said on Monday.
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Last week, the probe agency announced the investigation into overseas transactions by Paytm Payments Bank, a unit of One 97 Communications, popularly known as Paytm.
Paytm shares have plunged more than 50% since the Reserve Bank of India (RBI) announced on 31 January t Paytm Payments Bank could no longer accept new funds into its accounts or wallet. The rout has eroded around $3.1 billion in shareholders' wealth.
The investigation has found some lapses related so-called know-your-customer (KYC) rules that verify the profiles of users, said the person with knowledge on the matter.
Diese Geschichte stammt aus der February 20, 2024-Ausgabe von Mint Mumbai.
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