RBI Addresses Queries for Paytm Payments Bank Customers with 30 FAQs

As questions surge from Paytm Payments Bank account holders, the Reserve Bank of India (RBI) has stepped in with clarifications, releasing a comprehensive set of 30 Frequently Asked Questions (FAQs) to address concerns and provide guidance.

1. Continued Access:
   Accountholders can rest assured that they can continue to utilize their savings or current accounts with Paytm Payments Bank beyond March 15, 2024. Withdrawals, transfers, and debit card usage remain accessible up to the available balance in their accounts.
2. Deposit Restrictions:
   However, post-March 15, 2024, depositing or transferring funds into these accounts will no longer be feasible. The only permissible credits after this date include interest, cash backs, sweep-ins from partner banks, or refunds.
3. Handling Refunds:
   Refunds, cash backs, interest, or sweep-ins from partner banks are exceptions and can still be credited to accounts even after March 15, 2024.
4. Partner Bank Deposits:
   Existing deposits maintained with partner banks via ‘sweep-in/out’ arrangements can still be transferred back to Paytm Payments Bank accounts, subject to prescribed balance limits. However, fresh deposits into partner banks through Paytm Payments Bank won’t be permitted post-March 15, 2024.
5. Salary Credits:
   Accountholders receiving salary credits into their Paytm Payments Bank accounts must make alternative arrangements before March 15, 2024, as such credits won’t be facilitated thereafter.
6. Government Subsidies:
   Similarly, subsidies from government direct benefit transfers linked to Aadhar won’t be credited to Paytm Payments Bank accounts after March 15, 2024. Accountholders are advised to switch their linked accounts to avoid any disruption.

For further queries and detailed information, the RBI has provided a link to the FAQs: RBI FAQs for Paytm Payments Bank Accountholders.

IMG-20250820-WA0009

85856