SBI is reaching out to merchants to support payment systems amid regulatory action on PayTM Payments Bank. SBI Payments, a company supporting various payment solutions, is open to a one-time migration of accounts. The RBI has ordered Paytm Payments Bank to halt basic payment services due to rule violations. Despite minimal business ties, SBI is willing to help stabilize the system.
In a written reply to a question in Rajya Sabha, Union Minister of State for Finance Dr. Bhagwat Kisanrao Karad stated that digital payments have significantly increased in recent years, as a result of coordinated efforts of the Government with all stakeholders. The Minister informed that the total digital payment transactions volume increased from 2,071…