Paytm QR, Soundbox and EDC to continue to work, says RBI | All your questions answered

livemint.com:

Refunds, cashbacks, sweep-in from partner banks or interest are permitted credits into their account even after March 15, 2024. 4. The existing Deposits of Paytm Payments Bank customers maintained with partner banks can be brought back (sweep-in) to the accounts with Paytm Payments Bank, subject to the ceiling on balance prescribed for a Payments Bank (i.e.

₹2 lakh per individual customer at the end of day). Such sweep-ins for the purpose of making available the balances for use or withdrawal by the customer will continue to be allowed. However, no fresh deposits with partner banks through Paytm Payments Bank will be allowed after March 15, 2024.

5. After March 15, 2024, customers will not be able to receive any such credits (like Salary) into the account with Paytm Payments Bank. It is suggested that customers make alternative arrangements with another bank before March 15, 2024 to avoid inconvenience.

6. After March 15, 2024, customers will not be able to receive any such credit (subsidy or certain direct benefit transfers) into account with Paytm Payments Bank. Please arrange to change linked account to another bank before March 15, 2024 to avoid any inconvenience or disruption.

Also Read: RBI extends Paytm Payments Bank transaction curb deadline to 15 March 7. 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 inconvenience, it is suggested that you make alternative arrangements through another bank, before March 15, 2024. 8. Withdrawal/debit mandates through automatic UPI mandates will continue to