The Reserve Bank of India (RBI) on Friday extended the timeline for services linked to Patym Payments Banks to March 15 from the previous deadline of February 29.
Last month, the RBI had barred Paytm Payments Bank from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags and NCMC card after February 29, 2024 in the wake of persistent non-compliances and material.
While some reports had said that wilful defaulters can now get a new loan after 12 months of executing a compromise settlement, the RBI said this was not the case.