The Reserve Bank of India (RBI) has decided to give Paytm Payments Bank more time before implementing restrictions. Originally set for February 29, the new deadline is now March 15. During this period, customers won’t be able to make any additional deposits or credit transactions into their Paytm Payments Bank accounts, prepaid instruments, wallets, FASTags, or National Common Mobility Cards. However, they will still be able to receive interest and cashbacks. This extension allows Paytm Payments Bank users a bit more leeway to manage their finances before the restrictions take effect. The RBI’s decision to extend the deadline demonstrates a consideration for both the bank’s operations and its customers’ needs. It provides a buffer for users to adjust to the impending changes and make any necessary arrangements with their finances. Paytm Payments Bank customers are encouraged to take note of this updated deadline and plan accordingly to avoid any inconvenience once the restrictions are enforced.
RBI extends deadline for restrictions on Paytm Payment Bank to March 15
