RBI prohibits Paytm Payments Banks from offering services from March 2024

RBI prohibits Paytm Payments Banks

RBI prohibits Paytm Payments Banks from accepting deposits or conduct credit transactions, though costumers are still allowed to withdraw or use available balances in their accounts, including wallets, FASTags.   The Reserve Bank of India (RBI) slapped further restrictions on Paytm Payments Bank Ltd (PPBL) on Wednesday, banning it from operating its mobile wallet after … Read more

The RBI has extended the deadline for exchanging Rs 2,000 notes until October 7.

According to the RBI, while deposits and exchanges in bank branches will be discontinued after October 7, clients can continue to swap these notes at the 19 RBI issuance offices up to a limit of 20,000 at a time.   The Reserve Bank of India (RBI) has extended the deadline for exchanging and depositing 2,000 … Read more

Can you still use Rs 2,000 notes after September 30?

The deadline for returning or exchanging Rs 2,000 banknotes is September 30. Will they, however, be legal tender after the deadline?   If you have Rs 2,000 currency notes, you may be wondering what will happen to them after September 30, the last day to deposit/exchange them at banks. Given that banks will be closed … Read more