{"id":125054,"date":"2022-11-09T13:04:52","date_gmt":"2022-11-09T07:34:52","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=125054"},"modified":"2022-11-09T13:04:53","modified_gmt":"2022-11-09T07:34:53","slug":"paytm-payments-bank-receives-rbi-observations-on-it-report","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/paytm-payments-bank-receives-rbi-observations-on-it-report\/","title":{"rendered":"Paytm Payments Bank receives RBI observations on IT report"},"content":{"rendered":"\n<p><strong>Paytm Payments Bank receives RBI observations on IT report:<\/strong> Paytm Payments Bank (PPBL) management has received an RBI-mandated IT auditors report and the central bank\u2019s observation on it, more than six months after it was asked to pause onboarding new customers.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-november-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">November 2022 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n<p>\u201cAs per the preliminary assessment carried out by the bank management team of the above, we are informed that the observations are largely around the continued strengthening of IT outsourcing processes and operational risk management,\u201d Paytm said in its Q2 earnings report.<\/p>\n\n\n\n<p>The payments bank is a joint venture between&nbsp;Paytm, which owns a&nbsp;49 percent stake&nbsp;in the company, and&nbsp;Vijay Shekhar Sharma, who holds 51 percent. The bank management is in the&nbsp;process of responding&nbsp;to the RBI and will wait for further&nbsp;discussions\/directions&nbsp;from the regulator. The&nbsp;fintech firm&nbsp;informed that it cannot share a timeline on when it would be permitted to resume onboarding new customers. Paytm&nbsp;has posted a consolidated loss of&nbsp;Rs 571.5 crore&nbsp;for the quarter that ended September FY23, widening from a loss of Rs 473.5 crore recorded in the same period last year.<\/p>\n\n\n\n<p>However, the loss narrowed from&nbsp;Rs 645.4 crore&nbsp;registered in Q1FY23.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paytm Payments Bank receives RBI observations on IT report: Paytm Payments Bank (PPBL) management has received an RBI-mandated IT auditors report and the central bank\u2019s observation on it, more than six months after it was asked to pause onboarding new customers. November 2022 Current Affairs Quiz \u201cAs per the preliminary assessment carried out by the [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":125055,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4982],"tags":[74],"class_list":["post-125054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-november-2022","tag-bank-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/125054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=125054"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/125054\/revisions"}],"predecessor-version":[{"id":125056,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/125054\/revisions\/125056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/125055"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=125054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=125054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=125054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}