Topic: Paytm Bank will no longer operate starting from March 1. - page 2. (Read 221 times)
Appreciate sharing this here as some might not be aware but atleast those who had been following the news regularly has seen this coming for a while now as there has been lot of issues and non compliance from Paytm and eventually got what it deserved. We have better options now and there are banks like Kotak which has created stuffs like Kotak spends which is more secure and better than Paytm or any other UPI payment system hence it's time we start utilizing banks app and it's associate apps which are launched for this purpose instead of any third party app risking it all. Hope people clear off their balances from Paytm before it's too late.
This is an important piece of news you have shared @Bitcoin Smith, please move it to the News Child board. I do not think it is relevant to the main board as we do not want the main board to discuss a Bank getting ripped by an RBI. I conclude that PayTM itself has been on scanners of the government authorities as it has a huge chunk of investment from a Chinese bank. I am a regular user of its UPI service and pay many of my bills using its interface, but I have never subscribed to its banking, which is kind of strange to me as I do not consider it a bank. I have the same attitude towards Airtel Bank as I still feel it is better to use its mobile service rather using its banking services as such issues might arise with them in the future.
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I used to have a paytm account which was active, but eventually UPI came in and followed by Gpay and I eventually lost interest in that app. With freebies stopping on many such sites, I rarely opened their app anymore. Only recently I opened it on my device when Paytm launched their IPO.
Till date, I have already cleared off my balance from Paytm a long time back. I think this is one part of attempting to curb the payments system so they can push the CBDC eRuppee into the population.
Till date, I have already cleared off my balance from Paytm a long time back. I think this is one part of attempting to curb the payments system so they can push the CBDC eRuppee into the population.
Some of you may have already received the official announcement from the Paytm itself regarding their closure of Banking service today, but RBI issued a ban on their license a couple of days ago due to persistent non-compliance and significant supervisory concerns. But the news not yet reached to all the users.
So you guys, if you have any balance left if your Paytm bank balance then just withdraw them ASAP, don't wait till the deadline because we never know Paytm actually have enough money to settle all the payments when everyone starts withdrawing their balance.
paytm wallet will not affect due to this RBI decision, and you can also keep using their UPI channel to receive funds to your bank accounts.
You can see all the affected service in this news : RBI orders halt on Paytm Payments bank transactions: How will customers be affected?
So you guys, if you have any balance left if your Paytm bank balance then just withdraw them ASAP, don't wait till the deadline because we never know Paytm actually have enough money to settle all the payments when everyone starts withdrawing their balance.
paytm wallet will not affect due to this RBI decision, and you can also keep using their UPI channel to receive funds to your bank accounts.
You can see all the affected service in this news : RBI orders halt on Paytm Payments bank transactions: How will customers be affected?
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