Paytm Money has settled a case with the Securities and Exchange Board of India (SEBI) by paying ₹45.5 lakh for allegedly violating three SEBI circulars on technical glitch framework.
The alleged violations include not setting the permissible limit of 70 per cent for timely generation of alerts for critical assets, not submitting documentary evidence for peak load observed, and not connecting all its critical systems with log analytics and monitoring application.
The stock broking arm of digital payments company Paytm also violated the regulator’s directions on disaster recovery (DR) by not conducting live DR drill for half year — April 2023 to September 2023, SEBI had said in a show-cause notice issued to the stock broker.
By agreeing to the settlement, the case against the broker was dismissed without admitting or denying the findings of facts and conclusions of law.
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