Paytm to Stop Working After February 29? Vijay Shekhar Sharma Allays Concerns

Paytm CEO, Vijay Shekhar Sharma, addressed user concerns on Friday following the Reserve Bank of India's (RBI) order to halt new deposits to Paytm Payments Bank. The directive was issued on Wednesday, instructing the fintech firm to cease all banking activities by the end of February. Despite the restrictions, existing customers are free to withdraw funds and reduce balances in their prepaid cards or wallets without any limitations. In a blog post on Friday morning, Sharma reassured users that the Paytm app will "continue to function as usual beyond February 29." Paytm Payments Bank Services Have Been Curtailed by RBI Over ‘Persistent Non-Compliances and Continued Material Supervisory Concerns’: Report.

Vijay Shekhar Sharma on RBI Curbs

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