Paytm Payments Bank Can't Offer Services Including Wallet After 15 Mar 2024

Can existing customers add money in wallet and bank ?

They will find a way out in a month 😬😬

I am not seeing the option to open a Paytm Payments Bank account since long Can someone help, before restrictions get applied.

The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.

The Reserve Bank's action against Paytm Payments Bank Ltd (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors.

These reports revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action, the RBI said in a statement. "No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashbacks, or refunds which may be credited anytime," it said

The central bank further said withdrawal or utilisation of balances by its customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards are to be permitted without any restrictions, up to their available balance. The RBI in March 2022 had directed PPBL to stop onboarding new customers with immediate effect. PTI

Fasttag ka tha, ab kya complete ban kar dia kya?
News ka link toh do

@Mayavi the magician, please move to proper section and merge similar topics  

https://www.moneycontrol.com/news/business/rbi-...

Park+ & paytm Fastag Loophole ka bhi kuch yogdan hai banned krne mai

All gone

PayTM is over, it seems

@admin move it to appropriate section

RBI ki maa ki aankh

Paytm bloodbath with start let's bring Paytm share to its actual value 20 rupees

Banking sector nowadays became a joke

RBI goberner first banned Paytm fastag but did not succeeded in shorting paytm his ego hurt he banned almost all banking transactions and instructed to freeze all Paytm accounts WTF

Will fastag accounts be closed ? Or access not allowed after deadline?

lagta hai jio ya adani bank anewala hai

does that mean fuel balance will Have No value everyone will panic and Stop Accepting Paytm Altogether  No Paytm only phonepe That UPI UPi upi uPi upI...........

Cc bill payment using visa dc works or not ?

@abhishek012

paytm ko merge krdo jio payment bank me  

The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or allowing credit transactions, or top-ups, in customer accounts or prepaid instruments - such as wallets and FASTags - linked to those accounts, after February 29.

Customers can, however, continue to utilise balances from their accounts, including savings and current "without restriction (and) up to their available" limit, the Reserve Bank order said.

In addition, the nodal accounts of Paytm's parent company, One97 Communications Ltd., and Paytm Payments Bank Ltd., or PBBL, have been terminated by the central bank.

The RBI's order cited "persistent non-compliances and continued material supervisory concerns in the bank" that were flagged after a comprehensive audit of its systems by external parties.

It is understood this order does not affect Paytm's Unified Payment Interface, or UPI, arm.

Neither the company nor its founder/CEO, Vijay Shekhar Sharma, have responded so far.

Sorce:https://www.ndtv.com/india-news/paytm-payments-...

Ek tha Paytm bank.

Orindumb, Abhishek responsible for destroying this bank no action against them? These two guys should be behind bars for committing forgery and fraud