Can Paytm prospects use their Paytm wallets after March 15? FAQs answered | – Instances of India

Paytm disaster:The Reserve Financial institution of India (RBI) instructed Paytm Funds Financial institution Ltd. (PPBL) on January 31 to cease accepting new purchasers. Following this, rbi introduced that after February 29, PPBL would now not permit deposits, credit score transactions, top-ups, or withdrawals in buyer accounts, pay as you go playing cards, wallets, FASTags, NCMC playing cards, and so on. This deadline was later prolonged to March 15.
Discontinuation of inter-company agreements
In accordance with ET, Paytm and PPBL have now determined to finish a number of inter-company agreements.This determination was communicated via a notification on the inventory exchanges dated March 1, 2024.
Earlier, Paytm introduced plans to determine new partnerships with banks and implement measures to ensure clean providers for its customers and retailers. The corporate disclosed the potential monetary impression of those initiatives to the inventory markets.
The most recent Bombay Inventory Alternate (BSE) notification confirms that One 97 Communications Restricted, together with its providers such because the Paytm app, Paytm QR, Paytm soundbox, and Paytm Card machines, will proceed to function with out interruption.
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Affect on Paytm Pockets customers – FAQs answered

In the event you’re a Paytm pockets person, let’s look at whether or not you possibly can proceed utilizing your pockets in response to the FAQs launched by the RBI on February 18.
Can I nonetheless use my Paytm Pockets?
Sure, you possibly can nonetheless use your funds by withdrawing or transferring them as much as your account’s accessible steadiness. You may also use your debit card for withdrawals or transfers inside this steadiness. Nonetheless, after March 15, 2024, you will not be capable to add cash to your pockets or obtain any credit aside from cashbacks or refunds. Refunds and cashbacks, nonetheless, can nonetheless be credited.
Can I take advantage of pockets cash after March 15, 2024?
Sure, you possibly can preserve utilizing, withdrawing, or transferring funds to a different pockets or checking account so long as the steadiness is obtainable in your pockets. Nonetheless, minimal KYC wallets can solely be used for service provider funds.
Can I top-up or add/obtain cash into my Paytm Funds Financial institution pockets after March 15, 2024?
No, you will not be capable to add cash or obtain credit, aside from cashbacks or refunds, after March 15, 2024.
Can I obtain a cashback in my Paytm Funds Financial institution pockets after March 15, 2024?
Sure, cashbacks and refunds are nonetheless allowed to be credited.
Can I shut my Paytm Funds Financial institution pockets and switch the steadiness to a different checking account?
Sure, when you have a full KYC pockets, you possibly can shut it via Paytm Funds Financial institution or its banking app and switch the steadiness to a different checking account. For minimal KYC wallets, you possibly can both use the accessible steadiness or request a refund.
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Can I nonetheless obtain my wage in my Paytm Funds Checking account?
No, after March 15, 2024, you will not be capable to obtain any wage credit in your Paytm Funds Checking account. It is beneficial to make different preparations with one other financial institution earlier than March 15, 2024, to keep away from inconvenience.
Can I nonetheless obtain authorities subsidies or direct profit transfers linked to my Aadhaar in my Paytm Funds Checking account?
No, after March 15, 2024, you will not be capable to obtain such credit in your Paytm Funds Checking account. It is beneficial to alter your linked account to a different financial institution earlier than March 15, 2024, to keep away from any inconvenience or disruption.
Can my month-to-month electrical energy invoice nonetheless be paid mechanically from my checking account with Paytm Financial institution Restricted?
Withdrawal or debit mandates, like Nationwide Automated Clearing Home (NACH) mandates, will proceed so long as there is a steadiness in your account. Nonetheless, after March 15, 2024, no new credit or deposits might be allowed. To keep away from inconvenience, it is prompt to make different preparations via one other financial institution earlier than March 15, 2024.
Can my month-to-month OTT subscription proceed to be mechanically paid via UPI from my checking account with Paytm Funds Financial institution?
Computerized withdrawal or debit mandates through UPI will proceed so long as there is a steadiness in your account. Nonetheless, after March 15, 2024, no new credit or deposits might be allowed. To forestall inconvenience or disruption, it is beneficial to make different preparations via one other financial institution earlier than March 15, 2024.
Can my mortgage EMI proceed to be mechanically paid via my account with Paytm Funds Financial institution?
Auto debit mandates will nonetheless be executed so long as there is a steadiness in your account. Nonetheless, after March 15, 2024, no new credit or deposits might be allowed. To forestall inconvenience, it is beneficial to arrange EMI funds via one other financial institution earlier than March 15, 2024.