An external audit has uncovered non-compliance with regulations and notable supervisory concerns regarding Paytm's books says RBI.
After February 29th no further Deposits or credit transactions shall be allowed in any customer accounts, For Instance: Prepaid Instruments Wallets FASTags NCMC ( National Common Mobility Card )
As Paytm stock fell 20% on Thursday following RBI's action, the parent company (OCL) has decided to tie-up with other Banks but Paytm Payments Bank.
Founder Of PPB said action taken by RBI is a Big Speed Bump for Paytm and it can impact Rs.300 to Rs.500 Crore Annual Operational Profit.
Yes, Vijay Shekhar Sharma has said that the App will work as it is working now and there will be no hurdles for the user.
PayTM now allows PayTM FASTag to be transferred to another PayTM user account. To do so, go to “Manage PayTM FASTag” section in PayTM app, then select the option “Link with other wallet”.