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

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Last Comment 2024-02-19

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DeciDeaim

2024-01-31

RBI asks Paytm Payments Bank to stop onboarding new customers

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57224

Order by RBI

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Deal Wiki

Last updated by: abhishek012 2024-02-01

Paytm now tieup with 3rd party banks to continue Paytm Payment Gateway business https://www.desidime.com/discussions/paytm-now-...

Below msg shared by @DeciDeaim -

A new book authored by PAYTM
How to convert a Unicorn into a Popcorn

Top Comments

https://www.desidime.com/comments/permalink/9853782

Shivam11

2024-01-31

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Guys RBI has issued a new order which states that Paytm cannot take any deposits after Feb 29, 2024.

Only cashbacks, refunds will be permitted to be credited.

Withdrawal transactions will work as usual upto limit of existing balance.

If you've funds lying in Paytm, it's better to withdraw now.

20240131171118

Link: https://m.rbi.org.in//Scripts/BS_PressReleaseDi...

https://www.desidime.com/comments/permalink/9854025

genie_

2024-01-31

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lagta hai jio ya adani bank anewala hai

https://www.desidime.com/comments/permalink/9854259

kartikxxx

2024-01-31

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Kuch nhi hoga bhai, 29 feb se restrictions lgne hai, tab tak sort out ho jayega, mafinama and penalty ke sath.

Company thodi band hoga.

Log panic kar rhe ki withdraw karo blah blah.

Rahi baat share ke kuch dino tak toh lower circuit hai bhai... Sentiments nd news ka farak padega, Logo ko lag rha aaj he paytm band ho gya nd transaction band, maximum log date nhi pdenge.
Nikal lega koi raasta paytm wale.

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https://www.desidime.com/comments/permalink/9853782

Shivam11

2024-01-31

Link Copied

Link: https://m.rbi.org.in//Scripts/BS_PressReleaseDi...

https://www.desidime.com/comments/permalink/9853793

Desidime User

2024-01-31

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Can existing customers add money in wallet and bank ?

https://www.desidime.com/comments/permalink/9853794

DeciDeaim

2024-01-31

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No restrictions for that I think
Edit: Restrictions start at the end of February bro

View 2 more replies

https://www.desidime.com/comments/permalink/9853811

KingRocks

2024-01-31

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They will find a way out in a month 😬😬

https://www.desidime.com/comments/permalink/9854055

brucelee

2024-01-31

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by that time, every customer is out of paytm automatically!!

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https://www.desidime.com/comments/permalink/9853825

Nationalist

2024-01-31

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

https://www.desidime.com/comments/permalink/9853833

DeciDeaim

2024-01-31

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I think they are not allowing loading also. So no benifit getting one now.

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https://www.desidime.com/comments/permalink/9853830

sanvol

2024-01-31

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Paytm Payments Bank has been barred by the Reserve Bank of India (RBI) from accepting deposits/top-ups in any customer account, wallets, and FASTags after February 29 reportedly due to non-compliance of regulations and supervisory concerns.
Link- https://timesofindia.indiatimes.com/city/mumbai...

https://www.desidime.com/comments/permalink/9853832

desiman

2024-01-31

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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

https://www.desidime.com/comments/permalink/9853853

kartikxxx

2024-01-31

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

https://www.desidime.com/comments/permalink/9853898

romilq

2024-01-31

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Gaya bhai pura bank biggrin

View 1 more reply

https://www.desidime.com/comments/permalink/9853854

DeciDeaim

2024-01-31

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

https://www.desidime.com/comments/permalink/9853864

quantum

2024-01-31

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This section is out of purview of Magician. Please do the needful @admin @ankur2.0

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https://www.desidime.com/comments/permalink/9853865

pravshan

2024-01-31

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

https://www.desidime.com/comments/permalink/9853878

bnbauri

2024-01-31

Link Copied

https://m.rbi.org.in//Scripts/BS_PressReleaseDisplay.aspx?prid=57224

https://www.desidime.com/comments/permalink/9853905

ajaysurjiani307

2024-01-31

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BREAKING: RBI issues a series restrictions after Paytm audit report revealed persistent non-compliances • No further deposits, credit transactions in Paytm Payments Bank • Nodal accounts of Patym, Paytm Payments to be terminated

https://www.desidime.com/comments/permalink/9854036

ANSH_

2024-01-31

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That means Paytm payments Bank will be gone?

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https://www.desidime.com/comments/permalink/9853907

abhishek1110198

2024-01-31

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RBI bars Paytm Payments Bank from accepting deposits in any customer account from March 1st।

what will happen to paytm Payment Bank fastags?

https://www.desidime.com/comments/permalink/9853917

sanvol

2024-01-31

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

https://www.desidime.com/comments/permalink/9853992

abhishek012

2024-01-31

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India nahi rukega Livquik ka fastag se free me bank transfer karega. 😬

View 3 more replies

https://www.desidime.com/comments/permalink/9853920

10ven

2024-01-31

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All gone

https://www.desidime.com/comments/permalink/9853965

arorasid

2024-01-31

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Paytm is restricted to accept any deposit in bank account, wallet, fastag, or any other instrument after Feb 29. Utilize all your balance by then.

There is no new customer to be on board now...

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

https://www.desidime.com/comments/permalink/9853967

arorasid

2024-01-31

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PayTM is over, it seems

https://www.desidime.com/comments/permalink/9853981

Kar98k

2024-01-31

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https://x.com/ANI/status/175266710570580411...20

https://www.desidime.com/comments/permalink/9853983

Bhawin

2024-01-31

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@admin move it to appropriate section

https://www.desidime.com/comments/permalink/9853991

drupal

2024-01-31

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RBI ki maa ki aankh smile

https://www.desidime.com/comments/permalink/9854000

drupal

2024-01-31

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

https://www.desidime.com/comments/permalink/9854003

DeciDeaim

2024-01-31

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Sorry wrong reaction, itna Kam hain kya Value sweat_smile

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https://www.desidime.com/comments/permalink/9854005

drupal

2024-01-31

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Banking sector nowadays became a joke

https://www.desidime.com/comments/permalink/9854009

vikas111

2024-01-31

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Bob and Pnb are exception more than 100% return in a year.

View 1 more reply

https://www.desidime.com/comments/permalink/9854015

drupal

2024-01-31

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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

https://www.desidime.com/comments/permalink/9854016

krunal7

2024-01-31

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

https://www.desidime.com/comments/permalink/9854025

genie_

2024-01-31

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lagta hai jio ya adani bank anewala hai

https://www.desidime.com/comments/permalink/9854088

Proxy

2024-01-31

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Jio financial Ltd

View 5 more replies

https://www.desidime.com/comments/permalink/9854054

redhome9848389

2024-01-31

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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...........

https://www.desidime.com/comments/permalink/9854068

Desidime User

2024-01-31

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Cc bill payment using visa dc works or not ?

@abhishek012

https://www.desidime.com/comments/permalink/9854069

homedimer

2024-01-31

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paytm ko merge krdo jio payment bank me toungueout

https://www.desidime.com/comments/permalink/9854076

m.maharajan

2024-01-31

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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-...