Brief by Shorts91 Newsdesk / 12:53pm on 16 Feb 2024,Friday Business
The Reserve Bank of India (RBI) has granted a 15-day extension, till March 15, 2024, for certain business restrictions on Paytm Payments Bank Ltd (PPBL), easing concerns amid the ongoing crisis. While services like top-ups and fund transfers will have extended deadlines, others will cease on February 29. RBI emphasized that no further deposits or credit transactions will be allowed after March 15, except for interest and refunds. Banking services like fund transfers and UPI facilities will cease after March 15. PPBL customers can withdraw or utilize balances without restrictions until February 29. Nodal accounts associated with PPBL are to be terminated by February 29.
