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While the allocation of funds typically happens between December and January, this year the allocation announcement is still pending, industry insiders said. With the general elections round the corner, the industry is worried that the allocation and the subsequent disbursal of funds could be further delayed.
After Paytm's front-page ad on a national daily, Pine Labs came up with their digital ad campaign saying, 'The front page can be bought. Trust cannot.'
Paytm had released the ad amid growing concerns over the operational status of the digital payments app after the Reserve Bank of India said Paytm Payments Bank Ltd, or PBBL, the app's banking wing, cannot take deposits, offer credit services, or facilitate fund transfers from March 1.
Paytm's QR code and soundbox facility will continue to work even after the RBI deadline as the company faces crisis after the central bank's restrictions.
Paytm unveiled a print ad in TOI to reassure users and merchants that its QR, soundbox, and card machine will continue to work.