Want to create an interactive transcript for this episode?
Podcast: businessline's State of the Economy Podcast
Episode: How can fintechs shield themselves from fake accounts on their platforms? Rishi Agrawal, CEO and co-founder of TeamLease RegTech explains
Description: The discussion between Rishi Agrawal, CEO and co-founder of TeamLease RegTech, and businessline’s Lokeshwarri SK, sheds light on the sequence of events leading to the RBI's decision to halt deposit-taking and certain operations of Paytm Payments Bank. Agrawal explains that while the regulatory development may seem like a sudden reaction, it is the culmination of a series of issues dating back to 2018.  He highlights instances of non-compliance, including the submission of false information and violations of Know Your Customer (KYC) norms, which resulted in penalties imposed by the RBI. Agrawal emphasises the importance of KYC co...