Central Bank will issue FAQ in this regard

Shaktikanta Das said that there is no plan to review the decision taken against Paytm Payment Bank. While talking to the media, he said that I want to make it clear that this decision has been taken in the interest of the customers.

In a few days, the Central Bank will issue FAQs (Frequently Asked Questions) in this regard. You all will have to wait for that. We have taken the decision after discussing this for months. Sometimes RBI talks for years before taking such decisions.

RBI’s priority is the interests of customers.

RBI Governor Das said that our attitude towards fintech is clear. We want their number to increase in the country. The sector should also progress. Fintech will always get support from RBI. But the interests of customers and the financial stability of these companies will remain our priority.

On January 31, RBI had banned Paytm Payments Bank from taking deposits and top up. This decision will come into effect from February 29. Due to this tough decision, the bank will have to close its operations after February 29.

Director Manju Aggarwal resigns from the board

One 97 Communications said in its regulatory filing that Manju Aggarwal had resigned on February 1. This has been approved by the board of Paytm Payments Bank on 6 February. The company said that this decision will not affect their business. Manju Aggarwal’s resignation comes at a time when Paytm Payments is facing RBI ban.

The post Paytm Crisis: The decision against Paytm Payments Bank will not be changed, Governor Shaktikanta Das’s strict stance remains. first appeared on Rightsofemployees.com.

Because Paytm Payments Bank has also enabled linking of RuPay Credit Card with UPI ID on Paytm app for the convenience of the customers. Paytm Payments Bank has announced several new features for Paytm UPI such as UPI Lite on iOS, RuPay Credit Card on UPI and Split Bill.

Paytm Payments Bank has gone live with UPI Lite, a feature enabled by the National Payments Corporation of India for small transactions. About 6 million customers are taking advantage of this facility. Explain that through the new split bill feature, users can create friend groups on Paytm and share the bill in any group.

These facilities for the customers

Paytm says that customers can also tag payments made on Paytm, with which they can see all the transactions done under a certain tag at any time. Paytm empowers customers with the security of UPI. Paytm Payments Bank President Vijay Shekhar Sharma says that he has also brought many good features like split bill, Paytm tag, alternate UPI ID on Paytm app.

Recently given the facility of UPI interoperability

Currently, Paytm Payments Bank has the largest market share in merchant payments and is the largest acquiring bank. Recently the bank announced UPI interoperability, which enables Paytm customers to send and receive money instantly to any mobile number with a UPI ID registered on the platform.

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