This information is for you if you use PayTM.Find out which PayTM features will expire and which will remain active.
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The Reserve Bank of India took a significant action against Paytm Bank on Wednesday and imposed several new rules.
The Reserve Bank of India discovered that Paytm Bank did not adhere to their bank guidelines, so the bank was prohibited from adding new users as of March 2022.
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Let’s find out which services will be open and which will be closed for paytm users.
Following the RBI’s decision to ban numerous bank services, many paytm users are concerned about what services they will receive and what services will be discontinued.
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How will the general users be affected?
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Although the RBI has ordered that customers can pay with paytm without any restrictions, many users are wondering what will happen to their paytm account after this directive.
This issue needs to be understood in plain English if your account is with paytm bank. can take money out of the bank
Additionally, fasttag will be discontinued, and you won’t be able to use Paytm for fast recharge.
We would like to inform you that you will not be able to use the Paytm Fast Tag if you have not updated your KYC by January 31.
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It is preferable to pay off any outstanding statements or EMIs from PayTM Bank as soon as possible.
There won’t be any transactions possible in your PayTM bank account.
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You are unable to send gift cards or replenish your Paytm wallet.
Although you must have an account with another bank and not Paytm Bank in order to use it for UPI payments, it is still possible.