RBI slaps severe curbs on Paytm Payments Bank operations from March
Wednesday, 31 January 2024 RBI orders Paytm Payments Bank to stop accepting money in customer accounts including wallets and prepaid instruments from March 1. The bank must also stop operating unit services under Bharat Bill Pay or fund transfers after February 29. This action is due to persistent non-compliance and supervisory concerns. RBI also terminates nodal accounts of One97 Communications and Paytm Payments Services.
The Reserve Bank of India (RBI) imposes stringent restrictions on Paytm Payments Bank, prohibiting UPI services and deposits after February 29, 2024. Learn more about the regulatory actions and their impact on Paytm's banking operations in this update.
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Wednesday, 31 January 2024
