paytm payments bank fine penalty rs 5 crore financial intelligence unit paytm

India’s Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm’s banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country’s finance ministry said. The FIU initiated a review of Paytm Payments Bank after information from law enforcement…