The Reserve Bank of India (RBI) has instructed Paytm Payments Bank to cease its operations. In January, the central bank directed the bank, an affiliate of Paytm, to halt the acceptance of new deposits into its account or wallet, effective February 29. This deadline has been subsequently extended to March 15.
The Reserve Bank of India (RBI) announced that no additional deposits, credit transactions, or top-ups will be permitted in any customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc after March 15.
