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On January 31, the RBI directed Paytm Payments Bank to stop accepting new deposits and doing credit transactions from February 29.

What action did RBI take on Paytm:

In a major action against Paytm, the Central Reserve Bank of India has issued instructions that from 29 February 2024 onwards, the Paytm payment platform cannot accept new deposits in its accounts or wallets. Apart from this, instructions have also been issued to shut down many other services, due to which many questions have arisen in the minds of Paytm users. If you also have many questions in your mind regarding Paytm, then here are the answers to all your questions. We are trying to answer.

Question: Will my Paytm app be stopped, I only use Paytm to make payments through QR.

Answer: No, generally the way the payment transfer service was running through QR will continue in the same way even after 29th February 2024, just keep in mind that the payment made and received will be transferred directly to your bank account ( Paytm Payments will be done in addition to the Bank).

Question: Can I make UPI payment through Paytm?

Answer: If we talk about UPI payment, you may or may not, understand this in simple language that if your UPI is linked to Paytm Payments Bank, then you will not be able to make payment through UPI, and if your UPI If it is linked to any other bank account, you can make UPI payment.

Question: What should I do if I have money in my wallet?

Answer: If you have any money in your wallet, then either spend it before 29th February 2024 or transfer it to any other bank account (other than Paytm Payments Bank).

Question: I am a shopkeeper, will I not be able to receive payments through Paytm after 29th February 2024?

Answer: If you are a shopkeeper and the amount given by the customer comes to your Paytm Payments Bank, then you will not be able to receive this payment after 29 February 2024, and if the payment given by the customer is in any account other than your Paytm Payments Bank. If it comes then there will be no problem of any kind, even after 29th February 2024 you can receive payment through QR.

Question: What will happen if my account is in Paytm Payments Bank account?

Answer: After 29 February 2024, you will not be able to do any kind of transaction in Paytm Payments Bank account. If you have any money in your Paytm Payments Bank account, then transfer it to any other account.

Question: If I have taken a loan from Paytm, what do I have to do?

Answer: If you have taken a personal loan from Paytm, then you will have to repay its installment on time, otherwise your civil score will get spoiled, and in future you may face difficulty in getting personal loan from other loan giving companies because the loan by Paytm is a third party. (Other than Paytm Payments Bank).

Question: What should I do if I have Fastag issued by Paytm?

Answer: Before 29 February 2024, you should use whatever amount you have in it and buy a new Fastag. Because after 29 February 2024, you will not be able to add new funds in Paytm’s Fastag.

All this information is from reliable sources, answerwala is not responsible for any loss, please take final advice from customer service.

An expert arranged article- answerwala.com / #teamanswerwala

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