Paytm Payments Bank Shuts Down Today. Details Here

Paytm Payments Bank customers can no longer deposit money into their accounts, but can still withdraw or transfer funds.

Paytm, a major player in India's fintech scene, is facing a setback as its banking arm, Paytm Payments Bank Ltd (PPBL), is stopping key services from today. This comes after the Reserve Bank of India imposed restrictions on the bank, citing serious rule violations. Customers relying on digital payments are advised to find alternative banking solutions.

However, the Paytm app will keep running even after March 15. Your services will not be affected if you do not have a Paytm Payments Bank account. You can still use UPI services through the Paytm app, as long as it is linked to another bank.