The Reserve Financial institution of India dealt a extreme blow to Paytm because it imposed a number of sanctions on Paytm Funds Financial institution. The apex banking physique stated that no transactions from Paytm Funds Financial institution might be allowed from February 29, 2024. This has definitely raised fairly just a few questions within the minds of Paytm customers. Right here we attempt to reply a few of them:
Can customers port their Paytm pockets to another UPI service?
No, in case you might have a Paytm pockets, portability of any type shouldn’t be allowed.
Can funds be added to Paytm pockets or Funds Financial institution account?
At the moment, you’ll be able to however quickly you received’t have the ability to. High-ups, deposits, or credit score transactions usually are not permitted in any buyer accounts, wallets, pay as you go devices, FASTags, NCMC Playing cards, and many others after February 29, 2024.
Will banking providers be out there at Paytm Funds Financial institution?
The RBI has made it clear that Paytm Funds Financial institution is not going to be allowed to supply banking providers to prospects after February 29, 2024.
Can customers nonetheless use the Paytm app for making UPI funds?
Sure, customers can proceed utilizing the Paytm app and the UPI channel with none restrictions. The Paytm Funds Financial institution transactions are being barred, not all Paytm transactions.
Is it potential to withdraw or use balances from Paytm pockets or Funds Financial institution accounts?
Sure, withdrawal or utilisation of balances from Paytm pockets and Funds Financial institution accounts is allowed with out restrictions till February 29, 2024. After this date, beneficiaries can solely withdraw or switch funds from their pockets or account.
What occurs to FASTags, transit playing cards issued by the financial institution?
The stability in these devices can be utilized, withdrawn, or transferred with out limitations. Nonetheless, extra top-ups or credit into these accounts are solely permitted till February 29, 2024.
Additionally See: Finances 2024 Reside Updates | Earnings Tax Slabs Reside Updates | Finances 2024 Speech Reside Video Streaming | Railway Finances 2024 Reside Updates
Can customers port their Paytm pockets to another UPI service?
No, in case you might have a Paytm pockets, portability of any type shouldn’t be allowed.
Can funds be added to Paytm pockets or Funds Financial institution account?
At the moment, you’ll be able to however quickly you received’t have the ability to. High-ups, deposits, or credit score transactions usually are not permitted in any buyer accounts, wallets, pay as you go devices, FASTags, NCMC Playing cards, and many others after February 29, 2024.
Will banking providers be out there at Paytm Funds Financial institution?
The RBI has made it clear that Paytm Funds Financial institution is not going to be allowed to supply banking providers to prospects after February 29, 2024.
Can customers nonetheless use the Paytm app for making UPI funds?
Sure, customers can proceed utilizing the Paytm app and the UPI channel with none restrictions. The Paytm Funds Financial institution transactions are being barred, not all Paytm transactions.
Is it potential to withdraw or use balances from Paytm pockets or Funds Financial institution accounts?
Sure, withdrawal or utilisation of balances from Paytm pockets and Funds Financial institution accounts is allowed with out restrictions till February 29, 2024. After this date, beneficiaries can solely withdraw or switch funds from their pockets or account.
What occurs to FASTags, transit playing cards issued by the financial institution?
The stability in these devices can be utilized, withdrawn, or transferred with out limitations. Nonetheless, extra top-ups or credit into these accounts are solely permitted till February 29, 2024.
Additionally See: Finances 2024 Reside Updates | Earnings Tax Slabs Reside Updates | Finances 2024 Speech Reside Video Streaming | Railway Finances 2024 Reside Updates
