RBI has ordered Paytm Payments Bank Ltd (PPBL) to halt most of its business including taking further deposits, conducting credit transactions and carrying out top-ups on any customer accounts, prepaid instruments, wallets, and cards for paying road tolls after February 29.
Clearing the air around the operability of Paytm wallet, Paytm CEO Vijay Shekhar Sharma on Friday clarified Paytm s app will keep working beyond 29 February as usual.
In a major blow to Paytm Payments Bank Limited, an associate of Paytm, the RBI on Wednesday ordered the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other prepaid instruments.