The Reserve Bank of India (RBI) on Friday issued a list of frequently asked questions (FAQs) for the convenience of the customers of Paytm Payments Bank and the general public at large to explain how the business restrictions that have been .
The Reserve Bank of India has extended Paytm Payments Bank s wind-down deadline by 15 days to March 15, 2024, considering customer needs amid regulatory concerns. After this date, no more deposits or transactions will be allowed in customer accounts or associated instruments. Users holding NCMC cards for metro and bus travel from Paytm Payments Bank can continue using them until depleted, but cannot add funds after March 15. They re advised to switch to other providers beforehand to avoid inconvenience.
The central bank, in a January order, had told PPBL to stop such transactions by February 29, citing persistent non-compliance and supervisory concerns.
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