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PayTM Receives Notice from Delhi HC Regarding Postpaid Wallet Service
May 30, 2019
Mobile wallet company PayTM recently received a notice from the Delhi High Court in which it was asked to respond on a Public Interest Litigation (PIL) which says that the company is offering a post-paid wallet which violates the banking rules. The same notice was also sent to the central bank RBI.
The PIL said that PayTM has a payments bank license but that doesn’t mean that it’s authorized to offer loan or credit disbursement facilities to the customers.
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