DLitt Research Proposal Presentation dhakatimes24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dhakatimes24.com Daily Mail and Mail on Sunday newspapers.
Payment banks can do much more in India, by leveraging the large user base and reach, particularly with the increase in the number of users from Tier 2 and 3 cities, says Biswas.
PayTM is facing more trouble as the Employee Provident Fund Organisation (EPFO) has announced that it will block deposits and credits into EPF accounts linked with Paytm Payments Bank. This comes after the Reserve Bank of India announced restriction on One 97 Communications' digital payments gateway, starting February 23rd.
EPFO instructions
In a circular dated February 8th, the EPFO directed its field officers to not accept claims associated with Paytm Payments Bank Limited (PPBL) accounts.
At the meeting, it was discussed that ‘mule’ bank accounts, which are typically bought over by fraudsters from their original users should be closed, since they often form the bedrock of accounts into which money gathered through online scam is deposited.