Ruling out any review of the central bank’s action against Paytm Payments Bank, the Reserve Bank of India Governor Shaktikanta Das said the decision was taken after a comprehensive assessment of the functioning of the lender.  

On 31 January, the RBI ordered Paytm Payments Bank to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after 29 February.  

"At the moment let me say very clearly there is no review of this decision. If you are expecting a review of the decision, let me very clearly say there is (going to be) no review of it," Das said at a press conference after the 606th meeting of the Central Board of Directors of the RBI.  

The meeting was addressed by Finance Minister Nirmala Sitharaman.  

Das said any decision against entities regulated by the RBI is taken after a comprehensive assessment.  

While emphasising that RBI is supportive of the fintech sector, Das said it is also committed to protect the interest of customers as well as ensure financial stability.  

The central bank is expected to issue a set of FAQs (Frequently Asked Questions) on the Paytm matter this week.  

The RBI had cracked down on Paytm Payments Bank due to the fintech firm’s persistent non-compliance of the regulator’s norms despite repeated warnings.