Question:
Which company has to close their some of banking operations due to violation of RBI banking guideline?
Which company has to close their some of banking operations due to violation of RBI banking guideline?
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Recall the digital wallet whose banking arm was restricted by the RBI in 2024.
Updated On: Jul 7, 2026
- Yono
- PayZapp
- Paytm
- Bhim
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The Correct Option is C
Solution and Explanation
The Reserve Bank of India directed Paytm Payments Bank to halt most of its core banking functions, including taking in new deposits and processing credit transactions, after the bank repeatedly failed to meet regulatory compliance requirements.
This action, announced in early 2024, significantly restricted Paytm's banking operations even though its other payment services kept running in a limited way.
Yono (from SBI), PayZapp (from HDFC Bank) and BHIM (run by NPCI) were not affected by this particular RBI order, so Paytm is the one that fits the question.
This action, announced in early 2024, significantly restricted Paytm's banking operations even though its other payment services kept running in a limited way.
Yono (from SBI), PayZapp (from HDFC Bank) and BHIM (run by NPCI) were not affected by this particular RBI order, so Paytm is the one that fits the question.
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