Kotak Mahindra Bank Hit by RBI Restrictions with Pause on New Online Customers, Credit Cards The RBI pointed out that the bank has faced recurring outages in its digital banking channels due to a lack of a strong IT infrastructure. Data Security Risk Citing concerns about data security and the bank’s inadequate IT infrastructure, the … Read more
RBI Issues FAQs for Paytm Payments Bank Customers Amid Crisis In a recent development, the Reserve Bank of India (RBI) has granted an extension to Paytm Payments Bank Limited, altering the deadline for its ongoing operations. Initially, the central bank had directed Paytm Payments Bank to suspend certain critical operations starting from February 29, 2024. … Read more
Paytm Considering PhonePe, Google Pay Model to Sustain UPI Paytm parent company One97 Communications, is in discussions with the National Payments Corporation of India (NPCI) to incorporate third-party payment apps for seamless UPI access. Beginning March 1, Paytm users might notice changes in their virtual payment addresses, as the company intends to team up with … Read more
Paytm Ban In an unforeseen move, the Reserve Bank of India (RBI) has imposed restrictions on all services offered by Paytm Payments Bank (PPBL), effective February 29, 2024. Debit and credit transactions, along with wallet operations, will cease post this date. However, withdrawals are still allowed. The affected services also include fund transfers, bill payments, … Read more