RBI Grants Paytm Deadline Extension.!
The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) has extended relief to paytm Payments bank by extending the restrictions imposed on the bank from february 29, 2024, to march 15, 2024. The initial restrictions, issued on january 31, 2024, prohibited paytm Payment bank from adding new customers due to identified irregularities. In response to concerns about the impact on customers and merchants, the RBI decided to amend the previous order, giving paytm Payment bank additional time to make alternative arrangements.
The RBI emphadata-sized that the directive to terminate the nodal accounts of One97 Communications Limited and paytm Payment services Limited, operated by paytm Payments bank, before february 29, 2024, remains unchanged. Additionally, there is no alteration in the deadline for settling all transactions and nodal accounts in the pipeline until march 15, 2024.
Instructions have been provided to paytm Payments bank to assist customers in withdrawing balances from accounts or wallets, excluding those under investigation or pending judicial authority. The bank is also urged to aid in withdrawing customers' money deposited in partner banks.
The RBI emphadata-sized that the directive to terminate the nodal accounts of One97 Communications Limited and paytm Payment services Limited, operated by paytm Payments bank, before february 29, 2024, remains unchanged. Additionally, there is no alteration in the deadline for settling all transactions and nodal accounts in the pipeline until march 15, 2024.
Instructions have been provided to paytm Payments bank to assist customers in withdrawing balances from accounts or wallets, excluding those under investigation or pending judicial authority. The bank is also urged to aid in withdrawing customers' money deposited in partner banks.