Paytm Payment Bank Face Restrictions by RBI: What You Need To Know

Discover the latest on RBI's restrictions on Paytm Payments Bank. Learn about impacts, regulatory background, and essential actions for users.

Quick Summary

The Reserve Bank of India (RBI) has imposed restrictions on Paytm Payments Bank, affecting its mobile wallet and FASTag services. From the end of February, the bank won't be allowed to accept new deposits or conduct credit transactions. Customers can still access and use any funds they have, including in their wallets, (food & fuel) and FASTags. The RBI's decision is due to Paytm's repeated non-compliance with regulations, leading to further supervisory action. This does not affect UPI transactions via the Paytm app, as it's operated by the parent company, not the bank itself.

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