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RBI restrictions on Paytm Bank: Merchants, users mull platform change

Cite challenges like settlement, change in platform fee

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The regulator has debarred the payments bank from accepting any deposits, credit transactions, wallets, top-ups in any customer accounts after February 29

Ajinkya Kawale Mumbai
Merchants and users of Paytm Payments Bank are reconsidering their decision to stay with the company after the Reserve Bank of India’s (RBI’s) restrictions on the platform came.

A message from the company’s founder and chief executive officer, Vijay Shekhar Sharma, on messaging platform X did not help clarify matters for users of Paytm services.

In a post addressed to every Paytmer, Sharma said: “Your favourite app is working, will keep working beyond February 29 as usual. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance. India will

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First Published: Feb 02 2024 | 9:32 PM IST

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