Closure Of Paytm Payments Bank !!

20 February 24


Why PPB is getting Banned ?

An external audit has uncovered non-compliance with regulations and notable supervisory concerns regarding Paytm's books says RBI.

What will be the concequences?

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 )

Role Of OCL (One97 Communications Ltd.) !!

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.

Big Speed Bump !!

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.

Will the App keep working after February 29th ?

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.

Then What About the FASTags Balances ?

How to transfer/Port FASTag from one Paytm to another?

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”.