One 97 Communications has informed that its associate entity Paytm Payments Bank (‘PPBL’) has intimated that the Financial Intelligence Unit-India (‘FIU-IND’) has issued a press release on March 1, 2024, regarding the imposition of a monetary penalty on PPBL. As per PPBL, the FIU-IND imposed a penalty of ? 5.49 crore over the failure of obligations of reporting under Anti-Money Laundering (AML) measures. The company has informed that PPBL issued a statement that ‘The penalty pertains to issues within a business segment that was discontinued two years ago. Following that period, the bank has enhanced its monitoring systems and reporting mechanisms to the Financial Intelligence Unit (FIU).’ This disclosure will also be hosted on the Company's website: www.paytm.com.
The above information is a part of company’s filings submitted to BSE.
