New Delhi: Paytm Payments Bank Limited (PPBL) on Friday faced a penalty from the Financial Intelligence Unit-India (FIU-IND). The agency has imposed a monetary penalty of Rs 5.49 crore on the company’s associate entity. “The penalty pertains to issues within a business segment that was discontinued two years ago. Following that period, we have enhanced our monitoring systems and reporting mechanisms to the Financial Intelligence Unit (FIU),” said a Paytm Payments Bank spokesperson. Earlier in the day, One 97 Communications Ltd, the parent company of Paytm, and PPBL announced to discontinue various inter-company agreements, as the Reserve Bank of India (RBI) ban on the bank’s operations inch
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