After the restrictions on Paytm by RBI, there is a stir all over India because today, more than 30 crore users are using Paytm, and more than 2 Crore people are using Paytm payment bank facilities. The services of the Paytm app were ordered to continue till February 29, 2024, by RBI, but after the proposal of Paytm, this date has been extended to March 15.
Paytm Payment Bank Latest Guidelines
Although the Paytm application will continue, the facilities related to Paytm Bank will be stopped. Still, as per the current reports, something is coming to the fore: Even after March 15, the Paytm Payment Bank facility will continue. A doubt is being raised after such a report, which is related to the services of Paytm Payment Bank after March 15 and 15 regarding Axis Bank.
What Is the Paytm Bank And Axis Bank Agreement?
Although the facility of Paytm Payment Bank will be available in the Paytm application only till March 15, as per the recent agreement of Paytm with Axis Bank, the nodal account of Paytm Bank has been transferred to Axis Bank, under which Paytm Payment Bank Merchants will be able to settle their transactions even after March 15. This service will only include Paytm QR, Sound Box, and Card Machine.
The partnership has been carried out upon escrow arrangement. After the collaboration between Paytm & Axis Bank, Paytm’s shares have been raised by 5% and hit the upper circuit.
Can You Continue To Use Paytm Wallets After March 15 or March 15?
Yes, Paytm users can use Paytm Wallets after March 15, March 15 but the condition here implies that the function will only support withdrawal and transfer. Users can not make new deposits after March 15 or March 15.
Will Paytm UPI Services continue after March 15 or after March 15?
Yes, Paytm UPI Services will continue even after March 15 March 15. The only condition here is that users can access Paytm UPI Services if they have linked other bank accounts except Paytm Payment Bank as their primary UPI Account.
