Will users of Paytm wallets encounter any disruptions?

Will users of Paytm wallets encounter any disruptions?

RBI Governor Shaktikanta Das mandates Paytm Payments Bank to comply with regulations by  March 15 with no further extensions. After  Jan 31 following the PPBL restrictions, this decision was made.

However, Shaktikanta Das assures that 80-85% of Paytm wallet users will experience no disruption in services. This statement aims to de-stress the vast majority of Paytm's user base!

The RBI Governor suggests that those Paytm customers who may still be affected by the restrictions link their Paytm apps to other banks. 

Shaktikanta Das reaffirms RBI's support for innovation in the fintech sector, highlighting the central bank's Sandbox initiative as a testament to its commitment promoting growth in financial field.

RBI Governor compares fintech to driving a Ferrari. He says you have to follow rules for safety and growth in fintech like driving responsibly on roads if you want to enjoy your Ferrari!

Paytm's future is now in the hands of the National Payments Corporation of India (NPCI). As an end note, RBI Governor is optimistic, expecting India's growth to exceed 5.9% in Q4.

For more Interetsing Updates