RBI imposes restrictions on Paytm Payments Bank services.
In February 2024, the Reserve Bank of India (RBI) imposed limitations on Paytm Payments Bank, restricting its services after February 29, 2024. This decision came after persistent noncompliances and continued concerns regarding supervision were identified in the bank. As a result, Paytm Payments Bank cannot accept additional deposits or credit transactions, further impacting Paytm's financial position. Despite these actions, Paytm assures its users that their deposits in their savings accounts, wallets, and other related accounts will not be affected.
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