A Delhi consumer commission held India Cakes Private Limited guilty of service deficiency for failing to deliver a birthday cake for a woman’s grandmother. It also noted the company refused a refund, falsely claiming a previously attempted delivery.
RBI Governor Shaktikanta Das highlighted the regulatory action against Paytm Payments Bank, emphasizing the gravity of the violation and the central bank’s commitment to compliance and innovation. The decision followed unsuccessful bilateral engagements aimed at corrective measures. The RBI’s proactive approach reflects its dedication to maintaining financial system integrity while supporting fintech innovation.
