Deadline for various Paytm Payments Bank services is March 15: List of Paytm services you can, cannot use after this date
Paytm Payments Bank Ltd (PPBL) via a press releases dated January 31, 2024. The central bank barred Paytm Payments Bank from accepting fresh deposits or top-ups from February 29, 2024, citing persistent non-compliance and continued material supervisory concerns. The deadline has now been extended by 15 days to March 15, 2024.
On February 16, 2024, the RBI released a set of Frequently Asked Questions (FAQs) to provide Paytm customers with comprehensive information regarding the restrictions imposed on the Paytm Payments Bank.
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Here are list of services which can and cannot be availed after the March 15, 2024 deadline.
List of services which can be availed
Withdraw money from Paytm Payments Bank
You can continue to use, withdraw, or transfer funds from your account up to the available amount. Similarly, you can continue to withdraw or transfer payments using your debit card up to the available amount in your account.
Refund in Paytm Payments Bank after March 15, 2024
Refunds, cashbacks, sweep-in from partner banks or interest are permitted credits into your account even after March 15, 2024.
Monthly electricity bill auto deduction after March 15
Withdrawal/debit mandates (such as National Automated Clearing House (NACH) mandates) will continue to get executed till there is balance available in your account.
However, after March 15, 2024, credit or deposit in your accounts will not be allowed. Therefore, to avoid
