HomeTrendingRBI extends Paytm Payments Bank restriction

RBI extends Paytm Payments Bank restriction

  1. RBI extends Paytm Payments Bank restriction – Reserve Bank of India (RBI) extended the deadline for Paytm Payments Bank services to March 15, from the previous February 29. In a press release issued on Friday, the apex bank of India said that the decision was taken keeping in view the larger public interest including the merchants.

Earlier, the RBI disallowed the Paytm subsidiary from accepting further deposits, top-ups or credit transactions into its operated wallet or accounts from February 29.

RBI extends Paytm Payments Bank restriction

he RBI said: “Settlement of all pipeline transactions in nodal accounts referred to in item (iv) above (in respect of all transactions initiated on or before February 29, 2024) shall be completed by March 15, 2024, and no further transactions shall be permitted thereafter.”