Paytm Payments Bank, a part of the Paytm company, has faced regulatory action from the Reserve Bank of India (RBI) due to non-compliance with regulations.  The RBI initially ordered the bank to stop accepting new deposits by February 29, which was later extended to March 15.  Paytm has shifted its nodal account to Axis Bank ...

Paytm, a popular digital payment platform in India, has been facing significant challenges recently. The Reserve Bank of India (RBI) has banned Paytm Payments Bank from opening new customer accounts due to regulatory violations.  Paytm Payments Bank is a subsidiary of Paytm. This has caused a loss of approximately Rs 26,000 crore in the company’s ...

The Reserve Bank of India (RBI) recently placed significant restrictions on Paytm Payments Bank.  The central bank’s directive stops the bank from accepting deposits or adding money to customer accounts, wallets, FASTags, and other Paytm instruments after February 29, 2024.  This action is due to persistent issues with the bank’s operations and failures to comply ...