A year on, Paytm Payments Bank nudges users to reactivate wallets

Paytm Payments Bank is nudging its users to reactivate their digital wallets, a year after the Reserve Bank of India (RBI) imposed restrictions on the associate entity of One97 Communications (OCL). 

The reactivation effort comes at a time when the payments bank has lost 72.25 per cent of its prepaid payment instrument (PPI) wallets from 363.15 million in November 2024 to 100.73 million in December 2024, according to RBI data. This was much lower from 630.7 million in January 2024. 

The payments bank is activating digital wallets for those customers who have not transacted for the past 12 months. It