Is Paytm forbidden for people to use it..!? RBI Action..!
Is paytm forbidden for people to use it..!? RBI Action..!
The RBI has imposed strict restrictions on the use of paytm, citing violations of the rules. Over the last few years, the number of money transfers through wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital internet services has continued to increase. people use services like paytm and Gpay. From star hotels to small shops, these are widely used. In this context, strict restrictions have been imposed on the paytm company, saying that they are continuously violating the rules imposed by the Reserve Bank. Accordingly, there is a ban on new deposits and money transfers in Paytm. It has been announced that these restrictions will come into effect after february 28.
No money transfers including wallet are allowed. However, there is no restriction on withdrawing and using existing funds in paytm accounts. RBI has directed paytm Payments bank to exercise all powers under Section 35A of the banking Regulation Act, 1949. After february 29, no further deposits, transfers, or top-ups will be allowed in customer accounts, prepaid accounts, wallets, passtag, National Common Mobility Card, etc.
The RBI has imposed strict restrictions on the use of paytm, citing violations of the rules. Over the last few years, the number of money transfers through wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital internet services has continued to increase. people use services like paytm and Gpay. From star hotels to small shops, these are widely used. In this context, strict restrictions have been imposed on the paytm company, saying that they are continuously violating the rules imposed by the Reserve Bank. Accordingly, there is a ban on new deposits and money transfers in Paytm. It has been announced that these restrictions will come into effect after february 28.
No money transfers including wallet are allowed. However, there is no restriction on withdrawing and using existing funds in paytm accounts. RBI has directed paytm Payments bank to exercise all powers under Section 35A of the banking Regulation Act, 1949. After february 29, no further deposits, transfers, or top-ups will be allowed in customer accounts, prepaid accounts, wallets, passtag, National Common Mobility Card, etc.