The Reserve Bank of India (RBI) has directed Paytm Payments Bank to stop accepting fresh deposits, credit transactions, and top-ups in customer accounts from February 29, citing persistent non-compliances and supervisory concerns. This move follows an earlier directive in March 2022, halting the onboarding of new customers. Paytm Payments Bank, owned 49% by Paytm and 51% by founder Vijay Shekhar Sharma, faces significant regulatory challenges, impacting its operations and stock prices.
RBI Bars Paytm Payments Bank from Accepting Deposits After February 29
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/02/01121120/newindianexpress_2024-01_cf80772b-418a-4124-8156-1d69a3b3e6a5_RBI_cracks-ezgif.com-avif-to-jpg-converter.jpg)