Paytm Bank Banned: RBI has taken a big action on Paytm Bank, will the bank be closed soon? Check out the full details!-
Paytm Bank Banned: Most of all people use Paytm, a popular company in our country, PaytmSo in today’s post we are going to give you the complete update about Paytm Bank Banned so that you can have correct information about Paytm Bank Banned. Stay till the end of this post so that you can get complete information about Paytm Bank Banned. also provides services to Paytm Payments Bank and many users are connected with this bank. But now there is a very bad news for the users associated with Paytm Bank.The reason for this is that RBI i.e. Reserve Bank of India has taken a huge action against Paytm Payments Bank Limited due to which the users associated with this bank are in a lot of trouble because now they do not know that after this action of RBI Paytm What will be the changes in the Bank?
What action has RBI taken on Paytm?: Paytm Bank Banned-
According to the Reserve Bank of India (RBI), Paytm has violated several banking regulations after which RBI has taken strict action against Paytm. RBI says that Paytm has violated many rules in the audit report and the report of external auditors.
Now due to this, RBI has taken action on Paytm and has decided to close the credit and deposit facility for Paytm Payments Bank customers from February 29. That is, after 29th February if your account is in Paytm Payments Bank then you cannot deposit or order any money in it. Along with this, RBI has banned most of the services related to Paytm Payments Bank.
Apart from this, RBI has also banned the facility of Paytm FASTag and Paytm Postpaid, but you can still use the balance left in your Paytm FASTag, but after the balance is over, you can use Paytm Bank to recharge it. Can’t do it.
Will Paytm App be closed now?
After this action of RBI on Paytm, a lot of people are asking whether my Paytm App will stop working? So let us tell you that without any such problem you can use your Paytm App without any problem.
Let us tell you that RBI has banned Paytm Payments Bank and not other services of Paytm. This means that you will be able to use UPI payment, recharge, electricity bill payment, water bill payment, Paytm Gold, Paytm Money etc without any problem like before on Paytm. To use all these services you have to use another bank like HDFC, Axis, SBI etc.
So you don’t need to worry about it, you can use your Paytm App like before. After this action of RBI, only the customers of Paytm Payments Bank will be affected and not the users of Paytm application.
Loss in Paytm shares-
After this strict action by RBI, the share market of Paytm has seen a decline of up to 20%. In the stock market, Paytm operates under the name of One97 Communication Limited, and is currently trading at Rs 487 per share (as on 2 February 2024).
However, Paytm CEO Vijay Sharma while talking to the media said that even after February 29, Paytm users will be able to use all our services. For this, we are partnering with other banks as well, so none of our customers need to worry about anything.
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