The Reserve Bank of India today said that the clampdown on Paytm Payments Bank was a result of persistent non-compliance of the regulator’s norms. RBI Deputy Governor Swaminathan J said that they are monitoring Paytm Payments Bank and will take suitable steps as warranted going forward.

Addressing the media, RBI Governor Shaktikanta Das also said the strict action was taken keeping in mind the gravity of the violation.

“All actions of RBI are in best interest of systemic stability, protection of customers’ interest. Restrictions are always proportionate to the gravity of the situation,” Mr Das said.

“When constructive engagement doesn’t work we go for imposing business restrictions,” the Governor added.

Shaktikanta Das said that he cannot disclose the granular details of the case, but will issue a FAQ by next week as they have received several queries from the public.

The RBI last week ordered Paytm Payments Bank to stop accepting new deposits in its accounts or popular digital wallets beginning March, citing supervisory concerns and non-compliance with rules.

Hundreds of accounts created on Paytm Payments Bank without proper identification were one of the major reasons for the Reserve Bank of India to impose stringent curbs on the company. These accounts with inadequate Know-Your-Customer (KYC) conducted transactions worth crores of rupees on the platform, leading to fears of potential money laundering.

More than 1,000 users were found to have linked the same Permanent Account Number (PAN) to their accounts. The compliance submitted by the bank was found to be incorrect during verification processes conducted by both the RBI and auditors.

The government on Thursday afternoon hit back at Rahul Gandhi after the Congress MP’s claim Prime Minister Narendra Modi was not born into an Other Backward Class community.

Mr Gandhi, in Odisha with his ‘Bharat Jodo Nyay Yatra’, accused the Prime Minister of “misleading” people by identifying himself as an OBC member. He said Mr Modi “was born in(to) a family of the Ghanchi caste… which was included in the OBC list during the BJP government’s tenure in Gujarat”.

In a brief note titled “facts regarding Rahul Gandhi’s statement on PM’s caste”, the government said the Modh Ghanchi caste (and the sub-group to which Mr Modi belongs) “stands included in the Gujarat government’s list… of socially (and) educationally backward class and OBCs”.

“…after a survey in Gujarat, the Mandal Commission prepared a list of OBCs under Index 91(A),, which included the Modh Ghanchi caste. The Indian government’s list (of) 105 OBC castes for Gujarat has also included Modh Ghanchi…” the note said.

The government has also reminded Mr Gandhi the notification to include the sub-group in the list of OBCs was issued on July 25, 1994 – when Gujarat, Mr Modi’s home state, was ruled by the Congress.

“The same sub-group was included (in) OBC (list) as per a Government of India notification dated April 4, 2000. When both notifications were released Shri Narendra Modi was not in power, and was not holding an executive office at the time,” the government has said.

Rahul Gandhi’s jab at the Prime Minister’s caste comes as the government and the opposition squabble over a national caste census. This week he vowed to hold the census and remove the Supreme Court-ordered 50 per cent cap on reservations is the Congress wins the Lok Sabha election.

READ | Caste Census, Removal Of 50% Cap On Quota: Rahul Gandhi’s Promise

Mr Gandhi on Monday attacked Mr Modi declaring, “When time comes to give rights to OBCs, Dalits, tribals, Modiji says there are no castes. But when it is time to get votes, he says he is an OBC.”

The Prime Minister responded Wednesday during a speech in the Rajya Sabha, in which he said Congress stalwart and former Prime Minister Jawaharlal Nehru did not support reservations.

“Nehruji used to say that if SC, ST or OBCs get reservation in jobs, then government work standards will fall. He even stopped recruitment. What Nehruji said has been pathhar ki lakeer (‘set in stone’) for the Congress since. Your mindset can be understood through such examples,” the PM lashed out.

READ | “Congress Follows Nehru Blindly, He Was Against Reservation”: PM Modi

“The party has always been against the interest of SC and ST communities.”

Actress Yami Gautam is reportedly pregnant with her first child with filmmaker husband Aditya Dhar. The actress is currently in her second trimester. After three years of marriage, the couple is ready to welcome parenthood. According to reports, the actress is currently five and a half months pregnant, and she is expected to deliver in May 2024.

The couple has chosen to keep the news confidential until this point. Speculation about Gautam’s pregnancy arose after recent public appearances where she was observed covering her stomach. The couple has not officially confirmed the news yet, but it is expected that they will announce it on social media soon.

 Meanwhile, on the work front, Yami Gautam is getting ready to promote her upcoming thriller, Article 370, which is being produced by her spouse, Aditya Dhar. The pair, who crossed paths on the filming of Uri: The Surgical Strike in 2019, tied the knot on June 4, 2021, after dating for two years.

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