Paytm Payments Bank will be shutting down its operations effective tonight, March 15, 2024. The Reserve Bank of India (RBI) had imposed restrictions on Paytm Payments Bank, leading to the closure.
Here are the key points:
- Paytm Payments Bank Closure: Paytm Payments Bank will no longer be operational starting tonight, March 15, 2024.
- Restrictions by RBI: The Reserve Bank of India (RBI) had placed restrictions on Paytm Payments Bank, leading to the closure.
- Deposits and UPI: No new deposits can be made to Paytm Payments Bank accounts after March 15th. Additionally, Paytm customers will no longer be able to use UPI starting today.
- Salary Credits: Salaries will no longer be credited to Paytm Payments Bank accounts.
- Existing Wallet Balance: The money deposited in the wallet can be used, but no new transactions can be made from the wallet.
It is important to note that Paytm, the wallet service, is still operational and unaffected by this closure. Customers can still use their Paytm wallets for transactions.
For more information, customers can visit the Paytm Payments Bank website or contact customer service.
