RBI and NPCI stopped Paytm UPI servicesRBI and NPCI stopped Paytm UPI services
RBI has also banned Paytm UPI. RBI has banned Paytm bank and Paytm wallet till 29 February 2024. On request of Paytm, RBI extended its date till 15 March 2024. This doctor has been talking for many days but now as per the orders of RBI, NPCI has put a ban on Paytm.
Whenever someone uses Paytm’s UPI service, he has his own UPI ID, NPCI has put a ban on it. Paytm has written a letter to NPCI saying that Paytm UPI service should not be banned. Paytm is third along with other banks. The party is making demands and requests.
Paytm UPI did not migrate to any third party banks earlier but NPCI has put a ban on Paytm Bank. In the letter, Paytm has also said that they will soon migrate to some banks to provide UPI services and have talked to NPCI. I have asked for his approval.
And you should also tell that if you have done Paytm bank settlement in Paytm merchants then you need to change it and which bank will have to be given in the settlement.
Whether this request of Paytm is approved by NPCI or not, it will be known in a few days and whether people will get the service of Paytm or not, it will be known soon.
If Paytm migrates with any one bank then Paytm customers can face many problems like payment declined, payment failed or payment processing problem. Paytm needs to migrate with at least 5 banks like If Paytm migrates with more than 5 banks then Paytm customers will not face any problem.
This is about Paytm, after checking with NPCI and RBI, it has taken some decision, till when will its decision be made, Paytm customers are waiting for it.