RBI releases FAQs; Paytm QR, Soundbox and card machine will continue to work even after March 15 – Details inside

In response to recent developments and ongoing probe on Paytm Payments Bank Limited, the Reserve Bank of India (RBI) on Monday (February 16) issued a statement with a set of Frequently Asked Questions (FAQ) to address customer queries regarding the impact on their accounts.

According to the statement, the account holders can continue to withdraw and use their debit cards until March 15, 2024. The restrictions on depositing or transferring funds into the account will be enforced after this date. The FAQ clarifies that commencing from March 15, 2024, Paytm Payments Bank customers will no longer have the ability to deposit funds into their accounts.