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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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Finance Mentor Finance Mentor
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Aao dekhe kareeb se... lol

Budding Star Budding Star
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Another news which will help operators.

Deal Subedar Deal Subedar
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Anyone Crossed the tolls who got Paytm Tag recently? Especially after NHAI removed from the list. Is it working? I am still holding Paytm Fastag and I would like to know if it is working or not please as I am traveling 😌

Comrade Comrade
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It worked for me on 14th. Not sure after this change, let us know if it works for you or not.

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Deal Newbie Deal Newbie
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Pura bharosa hai paytm, it will come back

Pro Community Angel Pro Community Angel
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then buy it shares

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Finance Mentor Finance Mentor
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Customers can enjoy Paytm services till 15 march 2024

Pro Shopping Friend Pro Shopping Friend
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20240213104907
Finance Mentor Finance Mentor
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Mithaai bat gayo Aaj Paytm upper circuit pe tha joy

Finance Mentor Finance Mentor
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How it is repost?? That post tells about 29 farvary 

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Budding Star Budding Star
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image

Kuch samajh re ho??

Deal Major Deal Major
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Fintech firm One97 Communications -- owner of the brand Paytm -- has shifted its nodal account to Axis Bank from Paytm Payments Bank.

The move will allow continuity of Paytm QR, Soundbox, card machine after the March 15 set by the Reserve Bank of India, as per a regulatory filing.

The RBI has advised customers and merchants of Paytm Payments Bank Ltd to shift their accounts to other banks by March 15, giving 15 more days to the beleaguered entity to close most of its operations, including deposit and credit transactions.

"The company has also shifted its nodal account to Axis Bank (by opening an escrow account) to continue seamless merchant settlements as before."

This arrangement is expected to seamlessly replace the nodal account that OCL was using with Paytm Payments Bank. Paytm Payment Services Ltd, OCL's wholly owned subsidiary has already been using the Axis Bank services since its inception," Paytm said in a filing.

The nodal account of Paytm is like a master account in which all its customers, merchant transactions are settled. 
The RBI in the list of FAQs has clarified that Paytm QR code, Paytm Soundbox or Paytm POS terminal will continue to work after March 15 if it is linked to other banks instead of PPBL. 
"We are committed to providing seamless service to our merchant partners, with focus on compliance and regulatory guidelines. We assure our users that the Paytm app, and our pioneering devices like Paytm QR, Soundbox, Card Machine will continue to work as always," it said. -- PTI 

Deal Cadet Deal Cadet
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I guess it's time to say goodbye to paytm Fastag. They have removed the option to close fastag now. You need to call Fastag CC and they will send sms to enable closing of Fastag.

18001204210

Deal Cadet Deal Cadet
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No it's wrong info.i just raised closure of fasttag through app.

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Beacon Beacon
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na tere aane ki khushi, na tere jaane ka gham.

Deal Cadet Deal Cadet
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like this it continuously expanded... extended and at last, it was restored 😝

Deal Newbie Deal Newbie
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What happened to Paytm food wallet

replyuser
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