Question : Barring Payment Banks to add Customers

(a) whether it is a fact that the Reserve Bank of India (RBI) has barred certain payment banks from adding new customers;
(b) if so, the details thereof;
(c) whether it is also true that RBI has asked payment banks to appoint IT audit firm to conduct a comprehensive System Audit of its IT system; and
(d) if so, the details thereof and the action taken by the payment banks in this regard?

Answer given by the minister

THE MINISTER OF STATE FOR FINANCE

(a) to (d): RBI has informed that it had directed Paytm Payments Bank Limited on 11.3.2022, to stop adding new customers with immediate effect and had also directed the bank to appoint an IT audit firm to conduct a comprehensive System Audit of the IT system of the bank.
RBI has further informed that the Paytm Payments Bank Limited has not yet appointed the IT audit firm to conduct a comprehensive System Audit of the IT system of the bank.
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