As the Reserve Bank of India’s (RBI) deadline to ban Paytm Payments Bank Limited (PPBL) ends on Friday, here are key changes for millions of Paytm users and merchants that will come into force.
First of all, those having a savings bank or current account with Paytm Payments Bank will be not able to deposit money into their account.
No credits or deposits other than interest, cash-backs, sweep-in from partner banks or refunds are allowed to be credited, according to the Central bank.
However, one can continue to use, withdraw or transfer funds from their account up to the available balance in your account.