The Reserve Bank of India (RBI) on January 31 directed Paytm Payments Bank to stop all types of banking services– consisting of accepting deposits and processing of payments– efficient February 29, 2024. In action to this, the Employees’ Provident Fund Organisation (EPFO) has actually put limitations on deposits and credit deals of subriber’s EPF accounts kept in Paytm Payments Bank accounts. In a circular outdated February 8, 2024, the EPFO encouraged all its Field Offices to avoid accepting claims connected with checking account in Paytm Payment Bank Limited with result from February 23, 2024. Can you utilize Paytm wallet after February 29? Here’s what all Paytm users require to understand In reality, it was just in 2015 that the EPFO had actually directed its banking area to permit EPF payments to be made in Paytm Payment Bankand Airtel Payments Bank accounts. The Paytm legend This is what the RBI circular on Paytm Payments Bank mentioned: No even more deposits or credit deals or leading ups will be allowed any consumer accounts, pre-paid instruments, wallets, FASTags, NCMC cards, and so on after February 29, 2024, aside from any interest, cashbacks, or refunds which might be credited anytime. Withdrawal or utilisation of balances by its consumers from their accounts consisting of
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