As per the data, the restrictions on Paytm Payments Bank may not have a substantial impact since 90% of Paytm s UPI users have accounts linked with other banks, and most users have multiple backend accounts that are out of the scope of the central bank s curbs.
As per a January 31 order of the central bank, PPBL was asked to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29. RBI Gives 15 More Days Till March 15 to Paytm Payments Bank To Stop Deposits, Credit Transactions or Top-Ups in Any Customer Accounts and Wallets.
Financial Services Secretary Vivek Joshi on Wednesday said it is for the Reserve Bank to deal with the Paytm issue and the government has nothing to do with the matter for now.