Future Tech
India cenbank extends deadline for Paytm unit wind-down to March 15
MUMBAI - India's central bank has extended the deadline for winding down operations of Paytm Payments Bank, an associate of One 97 Communications, by 15 days in the interest of consumers, it said on Friday.
"No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc after March 15, 2024," the central bank said.
The earlier deadline was Feb. 29.
The action against the bank was triggered by persistent and serious supervisory concerns, the central bank said earlier.
- Reuters
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