RBI banned Paytm services in india now you can't use RBI wallet system know everything why rbi banned paytm services
What services RBI restricted for paytm users.
The servies under Paytm Paymtents bank limited (PPBL) will be banned only and what comes in these services let's kbnow about that.
Services under PPBL:
Wallets,Saving,Current Account,FastTag,UPI
The services outside of PPBL will keep going for users so let's know what is these services.
Services outside of PPBL:
Loans,Insurance,Mutual Fund,Money App
what RBI restricted more on for paytm users.
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.
Withdrawal or utilisation of balances by its customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards, etc. are to be permitted without any restrictions, upto their available balance
Why RBI restricted these paytm services:
RBI claims that the paytm paymtents bank limited does not follow our guidlines which should be follow but they always ingone it so this the main reason for BAN on Paytm services.
The reply on this notice of PAYTM:
In this post they are saying that their paytm payments (PPBL)bank limited is a assosiation of their main company one 97 communications limited (OCL) and the directions of RBI comes for only their PPBL not their main company paytm know that their PPBL services shall be ban but the main company will keep running so they are saying that they will tie up with other bank instead of their bank like SBI,YES BANK,HDFC BANK and more the facility which they provide like wallets , fast tags,UPI and more through this PPBL they will provide now by tie with other bank so that no any service will be affect,so the paytm app will be runnig and all services will be as it is so there is no need to worry.
now what you have to do for these changes so that your money will be safe
action to take:
1. redeem amount of
Paytm wallets
Paytm Payments bank
Paytm FastTag
Ask your bank for:
new FastTag
new Soundbox (QR)
