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Paytm Payments Bank ban: What happens to your money and what are the alternatives?

Can you use Paytm wallet after February 29? Here s what all Paytm users need to know

Paytm App: Paytm hit: Can you still use wallet, Fastag? All your questions answered

The Reserve Bank of India barred all services of the Paytm Payments Bank Ltd (PPBL) on Wednesday, dealing a major blow to one of India s prominent fintech companies. But what does this mean for you, your wallet and related services?

RBI Bans Paytm Wallet, UPI, FASTag After February 29; No New Customers Can Join Paytm Payments Bank - Trak in

RBI Bans Paytm Wallet, UPI, FASTag After February 29; No New Customers Can Join Paytm Payments Bank - Trak in
trak.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from trak.in Daily Mail and Mail on Sunday newspapers.

What next for Paytm s banking arm after India central bank clampdown?

Paytm: The Reserve Bank of India (RBI) has instructed Paytm s payments bank subsidiary to cease accepting new deposits, signaling a potential cancellation of its license. Paytm Payments Bank, which operates as a specialized banking entity, cannot offer credit services or facilitate fund transfers after February 29. Paytm has stated it will comply with the RBI s directions and expects an impact of up to INR 5 billion ($36 million) on its annual earnings. The move adds to regulatory concerns surrounding Paytm s business, but liquidity should not be an issue as the bank s deposits are held in government bonds and other banks.

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