The RBI’s statements suggest 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). These restrictions, according to the central bank, are the result of “continued material supervisory concerns”.
Risks faced by UPI customers
Paytm’s Unified Payments Interface (UPI) service customers may not be hit too hard. Their Paytm UPI handle would be linked to a wallet, a PPB account, or another bank account. After February 29, they will not be able to add money to the wallet or the PPB account.
“You will still be able to spend the money in the wallet or the PPB account
First Published: Feb 12 2024 | 12:37 AM IST