EXPLAINER: What next for Paytm Payment Bank after RBI's hint at …
WEBFeb 1, 2024 · The Reserve Bank of India (RBI) has ordered the payments bank subsidiary of Paytm to stop accepting fresh deposits in its accounts or popular wallets from March, in a major blow to one of the country's largest payments firms.
What's next for Paytm after RBI's clampdown on Paytm Payments …
WEBFeb 1, 2024 · In a surprising development that has sent shockwaves through India's fintech sector, the Reserve Bank of India ( RBI) on Wednesday issued a stern directive to Paytm Payments Bank, the banking arm of Paytm, instructing it to halt the acceptance of fresh deposits and other core operations.
RBI action against Paytm: probable causes, effects, and what …
WEBJan 31, 2024 · The Reserve Bank of India (RBI) on Wednesday (January 31) barred Paytm Payments Bank from offering all its core services — including accounts and wallets — from March, effectively crippling the company’s business.
"Your Money Is Safe": Paytm Payments Bank To Customers After RBI …
WEBFeb 2, 2024 · The Paytm Payments Bank on Friday assured its customers that their "money is safe" with the company, two days after the Reserve Bank of India (RBI) issued a directive restricting it from...
Since 2017, Paytm payments bank penalised at least five times by RBI
WEBFeb 10, 2024 · The payments bank, which commenced operations in May 2017, is not new to controversy and has had run-ins with the RBI on multiple occasions — in the seven years of its existence, the bank has been penalised over …
Press Releases - Reserve Bank of India
WEBFeb 23, 2024 · The Reserve Bank of India, in exercise of its powers under section 35A of the Banking Regulation Act, 1949, had put certain business restrictions on Paytm Payments Bank, vide Press Releases dated March 11, 2022, January 31 and February 16, 2024.
RBI explains why it cracked down on Paytm Payments Bank.
WEBFeb 8, 2024 · The Reserve Bank of India (RBI) has clarified its recent actions against Paytm Payments Bank, stating that the crackdown was a result of the bank's failure to comply with regulations despite repeated warnings.
RBI Paytm news: RBI takes more actions on Paytm Payments …
WEBFeb 23, 2024 · The Reserve Bank of India (RBI) has taken steps to ensure seamless digital payments for UPI customers using the @paytm handle, as Paytm Payments Bank won't accept further credits after March 15, 2024. The RBI advises NPCI to examine Paytm's request to become a Third-Party Application Provider for UPI. @paytm handles must migrate seamlessly to ...
Paytm news: Paytm reassures services remain unaffected after RBI …
WEBFeb 8, 2024 · Last week, the Noida-based payments and financial services provider found itself in a difficult spot after its associate entity, Paytm Payments Bank, was barred by the RBI from taking any fresh deposits or providing banking services after February 29.
RBI curbs on Paytm Payments Bank: Can’t take deposits, offer …
WEBJan 31, 2024 · “No further deposits or credit transactions or top-ups should 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,” the RBI said on Wednesday.
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