Merchants advised to switch providers for UPI payments due to Paytm | restrictions Personal Finance – Business Standard
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The RBI’s statements indicate that this will not restrict the ability of customers to withdraw money from their PPB account
The Reserve Bank of India (RBI) recently imposed significant restrictions on Paytm Payments Bank (PPB), an associate company of One97 Communications (Paytm). According to the central bank, these restrictions are the result of “ongoing material concerns about supervision at the bank, which justify further supervisory measures.”
Risks faced by Paytm’s UPI customers
People using Paytm’s Unified Payments Interface (UPI) service for payments may not be too badly affected by the RBI’s measures.
If you are a customer, you may have a wallet, PPB account or any other bank account linked to your Paytm UPI account. After February 29, you will no longer be able to add money
First print: February 12, 2024 | 12:37 pm IST