Explained: How RBI restrictions on Paytm Payments Bank will impact customers
Business | February 05, 2024 10:44 ISTThe central bank's directive restricts Paytm Payments Bank from accepting deposits or top-ups after February 29.
The central bank's directive restricts Paytm Payments Bank from accepting deposits or top-ups after February 29.
The RBI said that customers are permitted to withdraw or utilise balances from their accounts, including savings bank accounts, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards.
According to the filing, Paytm E-commerce, the parent firm of Paytm Mall, bought a 28.34 percent stake in Alibaba and a 14.98 percent stake held by Antfin (The Netherlands).
Paytm Mall has partnered with Apple to sell its latest products like iPhones and iPad in India.
Paytm provides with up to 200 services on its platform that includes travel, entertainment, bill payments, financial services like loan, gold, insurance and donations.
Nurturing a little grudge that he never had a chance to study at the Harvard University, Sharma de-merged the e-commerce business into a separate entity by the name of Paytm Mall to address India's large online retail opportunity with cash back.
There will be an option to purchase laptops on interest-free EMIs. The platform is also offering low-cost extended warranty and purchase offers to SMBs.
Top performers of the programme would be announced on October 10 in a ceremony at the Paytm Campus in Delhi NCR, and be awarded up to Rs 1 lakh in cash prize along with full-time job offers from Paytm Mall.
These are the initial years for Paytm Mall and we have a long-term perspective on building a successful tech business, a Paytm Mall spokesperson said.
Seven smartphone deals on Amazon, Flipkart and Paytm to help you make up your mind
Paytm Mall eyes gross sales during the festive season to touch $500 million with cashbacks and freebies worth Rs 700 crore on offer.
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