Paytm Payments Bank says RBI curbs won’t affect user deposits in their savings accounts, Wallets, FASTags

Paytm Payments Bank Limited, affiliated with One 97 Communications Limited, has reassured users that the recent restrictions imposed by the Reserve Bank of India (RBI) will not impact deposits in their savings accounts, Wallets, FASTags, and NCMC accounts. The RBI introduced additional curbs, preventing the bank from operating its mobile wallet after February 29. While further deposits are barred, existing balances can still be used without restrictions. Paytm’s offline merchant payment network will continue as usual, and the company plans to collaborate with other banks for future expansions in its payments and financial services business.