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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 DealBaba Pro DealBaba
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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 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...

Helpful Helpful
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Can existing customers add money in wallet and bank ?

Deal Captain Deal Captain
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No restrictions for that I think 
Edit: Restrictions start at the end of February bro
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Coupon Baba Coupon Baba
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They will find a way out in a month 😬😬

Deal Cadet Deal Cadet
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by that time, every customer is out of paytm automatically!!
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Deal Lieutenant Deal Lieutenant
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I am not seeing the option to open a Paytm Payments Bank account since long sweat Can someone help, before restrictions get applied.

Deal Captain Deal Captain
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I think they are not allowing loading also. So no benifit getting one now.
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Deal Cadet Deal Cadet
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Paytm Payments Bank has been barred by the Reserve Bank of India (RBI) from accepting deposits/top-ups in any customer account, wallets, and FASTags after February 29 reportedly due to non-compliance of regulations and supervisory concerns.
Link- https://timesofindia.indiatimes.com/city/mumbai...IMG20240131172709
Deal Major Deal Major
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The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.

The Reserve Bank's action against Paytm Payments Bank Ltd (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors.

These reports revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action, the RBI said in a statement. "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," it said

The central bank further said withdrawal or utilisation of balances by its customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards are to be permitted without any restrictions, up to their available balance. The RBI in March 2022 had directed PPBL to stop onboarding new customers with immediate effect. PTI

Pro DealBaba Pro DealBaba
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Fasttag ka tha, ab kya complete ban kar dia kya?
News ka link toh do

Benevolent Benevolent
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Gaya bhai pura bank biggrin 
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Deal Captain Deal Captain
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@Mayavi the magician, please move to proper section and merge similar topics  

Analyst Analyst
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This section is out of purview of Magician. Please do the needful @admin @ankur2.0

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Deal Newbie Deal Newbie
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BREAKING: RBI issues a series restrictions after Paytm audit report revealed persistent non-compliances • No further deposits, credit transactions in Paytm Payments Bank • Nodal accounts of Patym, Paytm Payments to be terminated
Talk-Of-The-Town Talk-Of-The-Town
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That means Paytm payments Bank will be gone?

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Deal Cadet Deal Cadet
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RBI bars Paytm Payments Bank from accepting deposits in any customer account from March 1st।

what will happen to paytm Payment Bank fastags?
Deal Cadet Deal Cadet
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Park+ & paytm Fastag Loophole ka bhi kuch yogdan hai banned krne mai joy

Finance Ninja Finance Ninja
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India nahi rukega Livquik ka fastag se free me bank transfer karega. 😬
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Deal Cadet Deal Cadet
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All gone

Deal Captain Deal Captain
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Paytm is restricted to accept any deposit in bank account,  wallet, fastag, or any other instrument after Feb 29. Utilize all your balance by then.

There is no new customer to be on board now...

https://www.moneycontrol.com/news/business/rbi-...

Deal Captain Deal Captain
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PayTM is over, it seems

Budding Star Budding Star
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@admin move it to appropriate section

Community Angel Community Angel
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RBI ki maa ki aankh smile

Community Angel Community Angel
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Paytm bloodbath with start let's bring Paytm share to its actual value 20 rupees

Deal Captain Deal Captain
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Sorry wrong reaction, itna Kam hain kya Value sweat_smile
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Community Angel Community Angel
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Banking sector nowadays became a joke

Deal Cadet Deal Cadet
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Bob and Pnb are exception more than 100% return in a year.

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Community Angel Community Angel
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RBI goberner first banned Paytm fastag but did not succeeded in shorting paytm his ego hurt he banned almost all banking transactions and instructed to freeze all Paytm accounts WTF

Deal's Advocate Deal's Advocate
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Will fastag accounts be closed ? Or access not allowed after deadline?

Critic Critic
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lagta hai jio ya adani bank anewala hai

Deal Cadet Deal Cadet
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Jio financial Ltd

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Deal Newbie Deal Newbie
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does that mean fuel balance will Have No value everyone will panic and Stop Accepting Paytm Altogether  No Paytm only phonepe That UPI UPi upi uPi upI...........

Helpful Helpful
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Cc bill payment using visa dc works or not ?

@abhishek012

Deal Brigadier Deal Brigadier
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paytm ko merge krdo jio payment bank me toungueout 

Deal Cadet Deal Cadet
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The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or allowing credit transactions, or top-ups, in customer accounts or prepaid instruments - such as wallets and FASTags - linked to those accounts, after February 29.

Customers can, however, continue to utilise balances from their accounts, including savings and current "without restriction (and) up to their available" limit, the Reserve Bank order said.

In addition, the nodal accounts of Paytm's parent company, One97 Communications Ltd., and Paytm Payments Bank Ltd., or PBBL, have been terminated by the central bank.

The RBI's order cited "persistent non-compliances and continued material supervisory concerns in the bank" that were flagged after a comprehensive audit of its systems by external parties.

It is understood this order does not affect Paytm's Unified Payment Interface, or UPI, arm.

Neither the company nor its founder/CEO, Vijay Shekhar Sharma, have responded so far.

Sorce:https://www.ndtv.com/india-news/paytm-payments-...


Community Angel Community Angel
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Ek tha Paytm bank.

Orindumb, Abhishek responsible for destroying this bank no action against them? These two guys should be behind bars for committing forgery and fraud

Talk-Of-The-Town Talk-Of-The-Town
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Well he also has helped a lot of people to make some money in this crap system

I know about rupay platinum offers and many other offers because of him

And many of dimers will agree on that

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