Friday , June 14 2024

Paytm gets new banking partner, now there will be no problem in transactions

After several weeks, some good news has come for Paytm. RBI has given time till March 15 to Paytm to close its banking services. Let us tell you that a few weeks ago, the Reserve Bank of India i.e. RBI had issued a notice banning Paytm payment service. RBI had said that after February 29, no service of Paytm Payments Bank will work.

Paytm new banking partner

Paytm new banking partner

RBI has taken such action due to irregularities shown by Paytm in banking services. Now RBI has given time till March 15 to Paytm and on the other hand Paytm has joined hands with a third party bank to keep its banking services running. Paytm will take the help of Axis Bank to expand its payment services to consumers. Actually, Paytm has faced huge losses in the last few weeks, because after this action of RBI, lakhs of users have left Paytm and shifted to other online payment apps like PhonePe, GooglePe, BharatPe, but Paytm said that RBI It has been closed. Paytm's banking service. Therefore they will take the help of third party banks to provide their banking services and for this they are in talks with many banks.

Paytm issued a press release saying that the company has transferred its nodal accounts to Axis Bank to continue business settlements as usual without any hassle. The company clarified through its press release that Paytm QR code, Soundbox and card machines will continue to work even after March 15. To you tell me That RBI had taken action against Paytm Payments Bank due to continuous violation of rules by Paytm in the Payments Bank service. However, the RBI had last Friday said that to give merchants and customers some more time to find alternative arrangements, the deadline for shutting down the Paytm Payments Bank service has been extended from March 29 to March 15.