Paytm Payments Bank fined Rs 5.49 crore for violating money laundering norms
The Financial Intelligence Unit-India, has imposed a monetary penalty of 5.49 crore rupees on Paytm Payments Bank Ltd with reference to violations of its obligations under Prevention of Money Laundering Act. Finance Ministry said in a statement that FIU-IND initiated a review of Paytm Payments Bank Ltd on receipt of specific information from law enforcement agencies.