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ED to probe Paytm Payments Bank if money laundering found

India's Paytm Payments Bank faces potential investigation by the Directorate of Enforcement amid fresh charges of fund siphoning.
PayTM Building

New Delhi: India's financial crime fighting agency will probe Paytm Payments Bank if any fresh charges of fund siphoning are found, Revenue Secretary Sanjay Malhotra told Reuters on Saturday.

The Reserve Bank of India (RBI) on Wednesday ordered the payments bank unit of One 97 Communications, popularly known as Paytm, to stop accepting fresh deposits in its accounts or popular wallets from March.

"If there are any fresh charges of money laundering against Paytm by RBI, those will be investigated by Directorate of Enforcement as per the law of the land," said Malhotra.

—Reuters

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