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    HomeNewsBusinessBanksED to probe Paytm Payments Bank if money laundering found

    ED to probe Paytm Payments Bank if money laundering found

    If new charges of fund syphoning are discovered, India's financial crime fighting agency will conduct an investigation into Paytm Payments Bank, Revenue Secretary Sanjay Malhotra told Reuters.

    Reuters
    February 03, 2024 / 15:18 IST
    Revenue Secretary Sanjay Malhotra told Reuters on Saturday that if any new allegations of fund syphoning are discovered, India's financial crime fighting agency will look into Paytm Payments Bank.

    Revenue Secretary Sanjay Malhotra told Reuters on Saturday that if any new allegations of fund syphoning are discovered, India's financial crime fighting agency will look into Paytm Payments Bank.

    Financial crime fighting agency will probe Paytm Payments Bank if any fresh charges of fund siphoning are found, Revenue Secretary Sanjay Malhotra told Reuters on Saturday.

    The Reserve Bank of India (RBI) on Wednesday ordered thepayments bank unit of One 97 Communications, popularlyknown as Paytm, to stop accepting fresh deposits in its accountsor popular wallets from March.

    ”If there are any fresh charges of money laundering against Paytm by RBI, those will be investigated by Directorate of Enforcement as per the law of the land,” said Malhotra.

    Reuters
    first published: Feb 3, 2024 03:06 pm

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