If you use Paytm, it’s important to know that some services will stop on March 1. The RBI is taking action against Paytm Payments Bank.
Starting February 29, you won’t be able to add money to your Paytm Payments Bank account.
The RBI says this is because Paytm didn’t follow the rules.
After February 29, you can’t deposit money, use prepaid instruments, wallets, Fastag, or National Mobility cards with Paytm Payments Bank.
Also, you can’t add new deposits or top-ups. Paytm Payments Bank won’t provide banking services from March 1.
But you can still use Unified Payment Interface (UPI) after February 29. And there’s no restriction on withdrawing money or using your wallet, FASTags, or cards.
This is a big problem for Paytm and its users, especially business owners, as it’s widely used in the country.
