RBI's deadline for Paytm Bank ends soon. Customers with money in the bank or Paytm Wallet have options to keep the money with the bank or withdraw and deposit it into another bank account. Money in Paytm Payments Bank is safe and can be transferred to another bank account. No more deposits, credit transactions, top-ups, or withdrawals will be permitted after February 29, 2024.
Paytm exodus: The recent RBI action against Paytm Payments Bank has triggered a seismic shift in the digital payments landscape for Kirana stores. While Paytm once held a dominant position, a new survey reveals a mass exodus to alternative platforms like BharatPe and PhonePe.
After the central bank cracked down on Paytm Payments Bank, the question is how will Paytm be affected? What part of the business could be lost and what will remain? Where does it go from here? Does it offer value? Here’s a breakdown of what happened and how it will affect the company
Last month, the RBI imposed major restrictions on the operations of Paytm Payments Bank Ltd (PPBL). It has directed Paytm Payments Bank to stop accepting deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29.