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

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RBI asks Paytm Payments Bank to stop onboarding new customers

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


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Deal Cadet Deal Cadet
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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...

Critic Critic
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lagta hai jio ya adani bank anewala hai

Pro Entertainer Pro Entertainer
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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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Deal Captain Deal Captain
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What will be impact on merchant qr's?

Pro Entertainer Pro Entertainer
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Nothing, if u link ur bank account (other than paytm bank account)

Deal Subedar Deal Subedar
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Just read that Warren Buffett sold Paytm stocks at 33% loss 2 months ago

Finance Mentor Finance Mentor
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Lower circuit 

Deal Captain Deal Captain
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The minimum expected, how many is the only question
Helpful Helpful
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Maybe Dodi ji needs some election funding. Payment aane ke baad, sabhi restrictions clear ho jaegi 🙂

Finance Mentor Finance Mentor
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👇 😁

Next level lutiyapa is going on joy

Like Magnet Like Magnet
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I have paytm share at the rate of 671, what should I do any suggestion guys ? I should Hold of sell?

Finance Mentor Finance Mentor
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Sell if you can sell don't hold

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Deal Lieutenant Deal Lieutenant
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Please Tag me when will the right time to close FD+wallet+fastag . sleeping

Generous Generous
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Now.


Trailblazer Trailblazer
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No more Paytm loots sob

Helpful Helpful
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Sharma to Modani, "Paytm Karo" 🙃🤠 innocent means bail out or buy out Karo 🤣

Deal Cadet Deal Cadet
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I'm using Paytm money for my SIP investments. Will I be impacted?

Deal Cadet Deal Cadet
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No

Deal Cadet Deal Cadet
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There are lots of wallet options. RBI is doing this to protect customer like us. They even blocked HDFC for nearly one year to give new credit cards. What good is a bank if you cant even speak to someone when your money is stuck.. Withdraw money and move to new UPI. 

Deal Cadet Deal Cadet
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FastTag walo ki laga di. Have no clarity that if funds for FastTag won't be allowed then can we switch to different merchant without any issues? or we will need to purchase new FastTag?

Deal Cadet Deal Cadet
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I depend on Paytm payments bank for my upi transactions and now am searching for alternatives but nothing is as good as paytm 😭

Deal Subedar Deal Subedar
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Me too... For everything depends on paytm payment bank

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Deal Cadet Deal Cadet
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All Paytm stockholders should apply for rematerialisation.

Deal Major Deal Major
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What about there fasttag?

Deal Captain Deal Captain
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Fastag seems a goner. Paytm Payments gateway is what they are trying to salvage on priority basis.

Can't chase too many rabbits right
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Post Emperor Post Emperor
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What happened with fastag security deposit?

Helpful Helpful
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Which is the best alternative for paytm payments bank, online zero balance account ? Is Jio payments bank good ?

Deal Newbie Deal Newbie
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Any issue with paytm bank?

Deal Captain Deal Captain
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Seems to be the main issue
Deal Cadet Deal Cadet
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I have been using Paytm to pay my credit card bills using my debit card without any charges.

Can anyone let me know of any service that offers this facility (ie. repayment by way of debit card) without any charges?

Deal Captain Deal Captain
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Mobikwik offers same service
Deal Newbie Deal Newbie
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I am going to buy 1000 shares at bottom

Deal Captain Deal Captain
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And where is bottom, I hope you find the bottom right, any figure you'd guess?
Deal Captain Deal Captain
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Paytm handiwork : More than 1,000 users were found to have linked the same PAN to their accounts.

Cool Cool
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Please suggest a wallet which can be loaded with a CC & be used for day-to-day UPI trxns....

Deal Major Deal Major
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Many vendors road side eateries in Mumbai have stopped paytm payments

Deal Captain Deal Captain
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The impact would be felt by the company even in payment gateway category, if people, merchants and customers don't want to transact  because of less confidence.
Deal Newbie Deal Newbie
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Lets see there will be some solution.

Post Emperor Post Emperor
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will mobile-number@paytm UPI ID work or not? there is 50-50% views on both side.

Deal Lieutenant Deal Lieutenant
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should remain working
Deal Newbie Deal Newbie
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What about paytm money ? Mutual fund investment?

Deal Major Deal Major
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Local shops back to accept payments through paytm QR code

Deal Captain Deal Captain
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Saw news yesterday that many are changing to phonepe for recieving payment??
Deal Newbie Deal Newbie
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@Admin, why don't you restrict such wrong info.....This is a completely misleading and wrong title. Where does the RBI notification say that Paytm can't offer services after Feb 29? It only says that the credits are not allowed in wallet or paytm bank account after Feb 29.

Deal Captain Deal Captain
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I'm the OP of the topic, I assure you that I didn't choose the title, it was edited along with streamlining of content for better information.  Although it was edited I didn't find anything objectionable so I didn't complain.

  Can't encourage people into something of which fate is Unknown, that would be misinformation too and could lead to more trouble to users than this title.

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Deal Cadet Deal Cadet
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RBI gives 15-day relaxation to Paytm, extends the date to 15th March from the earlier stipulated timeline of February 29, 2024.

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