The Reserve Bank of India (RBI) announced that Paytm Payment Bank customers have until March 15 to deposit or withdraw money.
RBI also provided answers to common questions about Paytm Payment Bank services.
They explained how to withdraw money, get refunds, receive salaries, and pay bills.
This decision came after Paytm Payment Bank raised concerns and RBI noticed some rule violations.
After March 15, no more deposits or withdrawals will be allowed, but customers can still receive interest, cashback, or refunds from partner banks.
Earlier, on January 31, RBI had asked Paytm Payment Bank to stop taking deposits after February 29, 2024, due to rule violations.
RBI is currently investigating the matter. They also shared FAQs about the Paytm situation on February 16, 2024.
