Paytm Bank customers get 15-day relaxation

BENGALURU : The Reserve Bank of India (RBI) on Friday extended the deadline of business restrictions that it imposed on Paytm Payments Bank Limited (PPBL) to March 15 from the earlier deadline of February 29.

Paytm has shifted its nodal account to Axis Bank by opening an Escrow Account to continue merchant settlements as before. Paytm Spokesperson said, “The shift of the nodal account to Axis Bank (by opening an Escrow Account) will ensure seamless merchant settlements as before.”