Paytm 7 Important Updates
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| Paytm Payment Bank Lasted Update |
1. RBI Grants Paytm Bank a 15-Day Extension
The Reserve Bank of India (RBI) has granted Paytm Bank a 15-day extension, ensuring uninterrupted services until March 15th.
2. Parent Company Shifts Nodal Account to Axis Bank
One97, the parent company of Paytm, has transferred its nodal account from Paytm Payments Bank to Axis Bank. This transition ensures seamless functionality of Paytm QR sound box beyond March 15th.
3. Withdrawal Flexibility from Paytm Payment Bank
Customers can continue to withdraw funds from their Paytm Payment Bank accounts without any restrictions, regardless of the transition.
4. Refunds and Cashback Normalization Post-March 15th
Refunds and cashback transactions into Paytm Payment Bank accounts will resume as usual after March 15th.
5. Impact on Salary and Subsidy Deposits
Any salary or subsidy deposits into Paytm Payment Bank accounts will cease after March 15th.
6. Continuation of Recurring Payments and Fast Track Services
Recurring payments, such as EMI, OTT subscriptions, and bill payments, will continue unaffected post-March 15th. Fast track services will remain operational until the depletion of the Paytm bank balance.
