RBI fines Paytm Payments Bank and Western Union The RBI informed that on examination of Paytm Payments Bank Limited's application for issue of final Certificate of Authorisation (CoA), it was observed that PPBL had submitted information that did not reflect the factual position. As this was an offence of the nature referred to in Section 26 (2) of the Payment and Settlement Systems Act, 2007. The Reserve Bank has imposed a penalty of Rs 1 crore on Paytm Payments Bank Limited (PPBL) and Rs 27.78 lakh on Western Union Financial Services for non-compliance with certain directions. The legal experts at Reddy and Reddy law firm specialize in handling the dispute regarding banking law.