Paytm News LIVE: RBI Orders Halt on Paytm Payments Bank Transactions | Paytm Shutdown News |RBI News

Описание: Paytm News LIVE: RBI Orders Halt on Paytm Payments Bank Transactions | Paytm Shutdown News |RBI News

In the past decade, especially after the 2016 shock demonetisation announcement, 'Paytm Karo' became a catchphrase that underlined a massive boom in digital payments in India. Riding that wave of 'digital India', Paytm, which started off as a prepaid mobile and DTH recharge platform, went on to become a market leader in the country's QR and mobile payments networks.

Cut to 2024, and the company faces one of its most worrying crises. This week, the Reserve Bank of India (RBI) dealt a severe blow to Paytm, barring its Paytm Payments Bank from offering its core services such as wallets and fund transfers. Thus, it cannot accept deposits or top-ups in any customer account.

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