RBI Decision on Paytm Payments Bank: Implications for Customers and Company

With the interests of Paytm Payments Bank clients in mind, the Reserve Bank of India made a significant judgement. Paytm and Paytm Payments Bank UPI users will gain if NPCI approves.

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Another decision involving Paytm has been made by RBI. This choice will help the client as well as the business. In actuality, NPCI (National Payments Corporation of India) has been invited by the Reserve Bank of India to become a third-party application provider for Paytm's UPI.

RBI and Paytm...

The Reserve Bank of India prohibited Paytm Payments Bank on January 31. since the RBI had discovered a lot of anomalies. After March 15, UPI users whose bank account is with Paytm Payments Bank won't be able to conduct UPI transactions.

as you won't be able to use a card or debit after March 15. RBI has urged users to attach another account to their UPI ID in order to remedy this.

Will there be any changes in UPI services? 

There won't be any changes to your UPI service if you link any other bank account to it than Paytm Payment Bank. The Reserve Bank of India has requested that NPCI join TPAP at One97 Communication Ltd.'s (OCL) request in order to maintain UPI for Paytm Payments Bank subscribers.

RBI directs ahed!

RBI has directed that, in order to prevent any irregularities, the @paytm handle should be seamlessly transferred from Paytm Payments Bank to a group of new banks if NPCI approves OCL's TPAP (Third Party Application Provider) request. Will need to fulfil.

The Reserve Bank of India has requested that the NPCI identify four to five banks that can serve as payment service providers for a significant volume of UPI transactions.

The Paytm Payment Bank's shares rose by 5% today and stayed on the upper circuit. Paytm shares have been consistently trading on the upper circuit this week. The closing price of Paytm shares today was 407.75.