Paytm Money, the stock broking arm of digital payments company Paytm, has settled a case with the Securities and Trade Board of India (Sebi) by paying Rs 45.5 lakh. The settlement addresses affirmed infringement of Sebi circulars related to specialized glitches and disaster recovery protocols.

The Sebi case against Paytm Cash included three key violations of the regulator's specialized glitch system. The company was denounced of failing to set the permissible 70 per cent constrain for the convenient era of alerts for basic resources, not submitting documentary evidence for the peak load watched and not interfacing its basic frameworks to a log analytics and observing application.

Moreover, Sebi's show-cause take note pointed out that Paytm Cash had damaged disaster recovery (DR) controls by coming up short to conduct a live DR drill for the period from April to September 2023.

By selecting for the settlement, Paytm Cash settled the issue without admitting or denying the findings of the case. As portion of the settlement, the case has been expelled, bringing a conclusion to the administrative procedures.

The settlement comes as portion of Sebi's progressing endeavors to implement stricter compliance on specialized measures inside the stock broking industry. Sebi had earlier issued circulars detailing the specialized glitch system and the disaster recovery both of which Paytm Cash was found to have breached.