RBI Fear

217°
Benevolent
flash007

Inspired from paytm story,

phonepe take steps:

Screenshot2024-02-01at8.36.08PM

Screenshot2024-02-01at8.36.14PM


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26 Comments  |  
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Benevolent Benevolent
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RBI be like: 

image

Analyst Analyst
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Hypocrite Bank(Institution) of India...
Deal Lieutenant Deal Lieutenant
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Action on One and prominent one, to set standard among all can be seen.

Generous Generous
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Rbi decision was too harsh

Ofcourse I don't have the required knowledge to comment on this but still..

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Benevolent Benevolent
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can someone add their QR, i need to send 1rs to keep my wallet activated.

You can keep the money.

Deal Lieutenant Deal Lieutenant
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@Saadhav

phonepe wallet can only be used on phonepe qrs, just like paytm

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Deal Subedar Deal Subedar
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this is an old rule i think i have been getting these messages from airtel since last year

Benevolent Benevolent
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rule is old but all will follow now.
I haven't done any transaction from phonepe wallet from last 3 year and the wallet is still active
Talk-Of-The-Town Talk-Of-The-Town
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This is good for consumers as now companies will  follow rules strictly

Kudos to RBI

Deal Cadet Deal Cadet
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don’t associate both incidents just got the mail last week for amazon pay wallet same issue
Benevolent Benevolent
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I haven't done any transactions from Phonepe wallet in the last 3 years and the wallet was still active.
One day after the Paytm ban, I received this notification so it looks linked to me.

Also, I think it's not fair to compare Amazon with Phonepe. Please don't give this much respect to Phonepe.
Deal Subedar Deal Subedar
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Finance Expert Dimers , I have 70K FD in Paytm. Also around 2k in Paytm payments bank. Please advise me on action plan. 

Benevolent Benevolent
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break the FD and transfer the money.
Don't risk for the last moment.
They might freeze outgoing payments / put some restrictions / GOD knows what bad can happen.
So Precaution is better than Cure
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Deal Cadet Deal Cadet
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chk if wallet works for u

Benevolent Benevolent
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yes, its working as of now
Savings Mentor Savings Mentor
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If only they allowed moving money out from the PhonePe wallet, they wouldn't have to send people emails to keep it active smile

Deal Captain Deal Captain
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While Payments Banks are limited to accepting deposits and cannot provide loans, Paytm offered BNPL services in collaboration with other lenders, offering personal loans up to Rs. 60,000 at 0% interest. This raised concerns as it involved Paytm selling products that a bank is not allowed to sell, leading to confusion among users.

Kya karne Chale the, kya hogaya.

Bhagwan ka ashirvad tha nhi toh or ek  Sahara kand , banne chale tha!
RBI agar har cheez ko monitor na kare or khuli chot Dede, toh ye log khet saf kar denge!
Have Trust, Be aware, Play Safe.

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