The Reserve Bank of India (RBI) has accused Paytm Payments Bank of irregularities

The Reserve Bank of India (RBI) has accused Paytm Payments Bank of irregularities. India’s apex bank has informed that Paytm will no longer be able to provide banking services from February 29. But RBI extended that period for 15 days. RBI has issued a notification that customers can continue to deposit money or carry out credit transactions in Paytm Payments Bank account, wallet or Fastag till March 15.

Said that the money deposited in Paytm Bank can be withdrawn by March 15. RBI has also directed to make arrangements so that customers can withdraw money from their Paytm bank accounts seamlessly.Also, if a customer’s salary is deposited in a Paytm Bank account, the RBI has advised to find an alternative before March 15. Customers may face difficulties if they do not find an alternative before March 15.

RBI has imposed certain business restrictions on Paytm Payments Bank from February 29 by exercising certain powers, the apex bank said in the notification. However, keeping in mind the interest of the larger public, that deadline has been extended. of the customer. RBI has also considered that more time is needed to make alternative arrangements.