RBI implement restrictions on Paytm Payments Bank for non compliance of regulations

[anmolbhard004]

@Sushubh what exactly do you mean by migrating to other bank acs? matlab the shopkeeper had an ac with Paytm payments bank?
Can you explain this a bit.

Yes its true that whole day the money is with paytm and its deposited daily at 8 am for me .
I would miss their paytm business app it had the best and smoothest UI .
Till now they havent contacted me for anything.

 

[Sushubh]

Basically a lot of retailers take money in Paytm payments Bank account. Smaller ones. They are getting them switch to other bank accounts.

But settlement should be blocked as well because Paytm retains the money till it is transferred in one go.

Maybe they would switch to another bank to accept payments . I have no idea how things work in the backend.

 

[anmolbhard004]

I take the settelments in my HDFC ac so will it affect me??
But Paytm and PPBL are 2 different entity na

 

[Sushubh]

Unclear tbh. But considering the announcement stops Paytm from accepting any funds from customers... They really can't do settlement from their own end.

 

[itzmynet]

 

[Sushubh]

Lol. They are indirectly saying funds add karlo abhi.

 

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[anmolbhard004]

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BASICALLY HE SAYS KI HUMARA KOI RISHTA NAHI HAI AB



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NOW HAVE TO CHANGE MY QRs


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I Guess they will partner with HDFC AND ICICI

 

[Sushubh]

And then there are credit card machines.

 

[anmolbhard004]

uska bhi hai


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[Sushubh]

Samajh nahi aaya though. I guess they can remotely update software on these machines which makes it easier than qr codes.