RBI Extends Deadline For Paytm Unit Wind-Down To March 15

Indian lender Paytm Payments Bank got a much-sought after extension from the central bank to wind down its operations on Friday, even as its overseas transactions are under the scanner of the federal financial crime fighting agency. The Reserve Bank of India (RBI) in a January order had asked Paytm Payments Bank, an associate of One 97 Communications or Paytm, to stop accepting any fresh deposits in its account, or popular wallet, from Feb. 29. The deadline is now extended to March 15, RBI said.