RBI orders Paytm Payments Bank to stop deposits and credit transaction after February 29

The RBI order further read that withdrawal or utilisation of balances by the bank’s customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards, etc. will be permitted without any restrictions, upto their available balance. It added that no other banking services, like fund transfers (irrespective of name and nature of services like AEPS, IMPS, etc.), BBPOU and UPI facility should be provided by the bank after February 29, 2024.