Merchants advised to switch providers for UPI payments amid Paytm restrictions | Personal finances| Trending Viral hub

digital economy, UPI


The RBI’s statements suggest that it will not limit customers’ ability to withdraw money from their PPB account.

The Reserve Bank of India (RBI) recently imposed significant restrictions on Paytm Payments Bank (PPB), an associate company of One97 Communications (Paytm). These restrictions, according to the central bank, are due to “continued significant supervisory concerns at the bank, which justify further supervisory measures.”

Risks faced by Paytm UPI customers

The RBI measures may not affect people who use Paytm’s unified payments interface (UPI) service for payments too much.

If you are a customer, you may have a wallet, PPB account or other bank account linked to your Paytm UPI ID. After February 29 you will not be able to add money

First published: February 12, 2024 | 00:37 IS

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