Paytm Payments Bank and wallet are subject to RBI restrictions in India. The company said the app will continue bill payments and recharges after March 15, 2024.
The worst ban on Paytm Payments Bank is from RBI restrictions in India. After the decision, the country is unsure if this app will work after the deadline. Paytm outlined on its website what will work and what won’t after March 15 for UPI payments, Wallet, Fastag, and more.
Pay bills, recharges, etc. via Paytm?
Paytm verified in its current FAQ page that the app will continue to process bill payments and recharges.
The Paytm Payments bank ban would not affect the associated app to recognized banks like HDFC, ICICI, and others.
Only Paytm Payments Bank users would be affected by the RBI.Will Paytm QR code, Card Machine, and Soundbox work after March 15?
They will since the ban only affects Paytm Payment Bank. Can you keep using Paytm Payments Bank Wallet?
As to the company's FAQs, you can utilize the Paytm Payment Wallet to withdraw or transfer money to another wallet or bank account until the amount is accessible.
After March 15, 2024, you cannot deposit in the same. All refunds and cashbacks will be credited to your wallet.Can we use Paytm Payments Bank’s FASTtag/NCMC Card after March 15?
Paytm Payments Bank may use them, but after March 15, 2024, you cannot recharge or add money.
Use the money or close your Paytm Payments Bank-issued FASTag / NCMC Card and get a refund from your bank.Paytm money security
On its website, Paytm confirmed that the RBI has restricted its Payments Bank Account or Wallet. This implies the platform cannot accept new deposits or credit transactions after March 15.
However, you can withdraw your money after the deadline without restrictions. Conclusion
Paytm Payments Bank is affected by RBI restrictions in India. The company said the app will continue bill payments and recharges after March 15. The RBI prohibition solely affects Paytm Payments Bank users. After March 15, Paytm’s QR code, Card Machine, and Soundbox will work. Paytm Payment Wallet withdrawals and transfers will continue until the balance is accessible. Users cannot deposit or reload their FASTag/NCMC Card after March 15. Post-March 15 RBI restrictions limit deposits and credit activities.
