MUMBAI: Paytm Payments Bank (PPB) has provided some more clarity on the impact of the ban imposed by reserve Bank of India On onboarding of new customers on Friday. The digital bank said customers can still register for is i On the App, Users cannot sign up for new PPB Wallet or Savings or Current Accounts, until further notice.
In a note addressed to all customers, PPB assured them that all accounts are working and all deposits are safe.
“As you are aware, the Reserve Bank of India (RBI) has directed us to temporarily stop the onboarding of new customers with immediate effect, vide a letter dated March 11, 2022, we shall comply with the instructions Taking immediate steps. PPBL is committed to work with the regulator to address their concerns at the earliest. We will inform when we recommend opening of new accounts after receiving reserve Bank of India approval,” the bank said.
Existing customers of PPBL can continue to avail seamless banking and digital payment services without any interruption. Savings of existing users in their PPBL account, their fixed deposits with partner banks and balances held in their Paytm Wallet, FASTag or wallet card And UPI services are also secure and functional. “Any new user visiting Paytm App can create Paytm UPI handles, and links them to their existing PPBL account or other bank accounts,” the bank said.
In a note addressed to all customers, PPB assured them that all accounts are working and all deposits are safe.
“As you are aware, the Reserve Bank of India (RBI) has directed us to temporarily stop the onboarding of new customers with immediate effect, vide a letter dated March 11, 2022, we shall comply with the instructions Taking immediate steps. PPBL is committed to work with the regulator to address their concerns at the earliest. We will inform when we recommend opening of new accounts after receiving reserve Bank of India approval,” the bank said.
Existing customers of PPBL can continue to avail seamless banking and digital payment services without any interruption. Savings of existing users in their PPBL account, their fixed deposits with partner banks and balances held in their Paytm Wallet, FASTag or wallet card And UPI services are also secure and functional. “Any new user visiting Paytm App can create Paytm UPI handles, and links them to their existing PPBL account or other bank accounts,” the bank said.