The Paytm Crisis Explained: What You Need to Know

Описание: The Paytm Crisis Explained: What You Need to Know
On January 31, the Reserve Bank of India (RBI) imposed curbs on the business activities of Paytm Payments Bank asking it to stop all banking activities by the end of February.
Here are the details on customer accounts, prepaid instruments, wallets, FASTags, or National Common Mobility Cards:

PayTM Wallet balance

After February 29, Paytm wallet balances can still be topped up and transferred. However, this can no longer be done through Paytm Payments Bank. Users are still able to add funds and use their existing balances for bill payments.

In a regulatory filing, Paytm said: "OCL, as a payments company, works with various banks (not just Paytm Payments Bank), on various payments products. OCL started to work with other banks since starting of the embargo. "We now will accelerate the plans and completely move to other bank partners. Going forward, OCL will be working only with other banks, and not with Paytm Payments Bank Limited. The next phase of OCL’s journey is to continue to expand its payments and financial services business, only in partnerships with other banks." PayTM FASTags
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Link of Telegram channel
https://t.me/current_affairs_PS