Know all about PayTM Crisis and RBI Ban

image Credit: news18.com FEb 07, 2024

Understanding the paytm crisis

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RBI has prohibited Paytm payments bank ltd. from accepting new deposits.

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What went wrong?

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Millions of accounts lacked proper KYC, raising concerns of security and money laundering.

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How will it impact the paytm users?

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Breathe easy, because your money is safe.

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What would be the next move of Paytm or RBI?

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Paytm is collaborating with RBI to solve compliance issues and regain its license.

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What do you learn from the RBI vs Paytm case?

[{"selector":"#anim-d23b7ef9-776f-45ee-9b41-bf4ac6fab32f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.35191143107103%, 0, 0) translate(0%, 0%) scale(1)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-d36612fc-7cb2-4a84-894c-f342937ae655","keyframes":[{"offset":0,"transform":"translate3d(0, -568.09379%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -159.747973748%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -54.309766324%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -20.394567061%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -8.862263124%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-c586a84f-a409-400b-84fc-9f38a32e4670","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2ab19a51-c315-4818-bdc1-0916f9ab3312","keyframes":{"transform":["translate3d(0px, 732.22382%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] image Credit: adda247.com

Stick to official sources for information like Paytm, RBI or other trusted websites.

[{"selector":"#anim-cfce6b7a-0563-42b6-823f-8bd30e71ae93 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-37.780895727717414%, 0, 0) translate(6.140350877192985%, 6.140350344915708%) scale(0.8771929824561403)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-e7f2f97b-4dad-4631-91b9-e82c14b415bd","keyframes":{"transform":["translate3d(-116.07717%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ea523005-5a7b-4472-99c8-e0f0de0ed93f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-487e48f9-216c-4f18-be4b-ec9e219c0db4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-37f69a87-52e5-448d-b565-03762937934b","keyframes":{"transform":["translate3d(115.43408%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b436136a-2ddf-47c0-a32e-6e138fe48587","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54c4454a-5e2e-46dd-984e-b40f5b2e0951","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-a3ab39c8-7130-4203-88db-1e0c21570ff3","keyframes":{"transform":["translate3d(-117.0418%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7931086f-d64d-476d-b533-59ac25bf9027","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b525e5b-ad7e-4352-85eb-dc1ec5516d75","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-dab107de-82cf-4a37-9f78-78710890ef86","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c1ffce8b-0d8c-4437-ae99-75a47de67ba0","keyframes":{"transform":["translate3d(0px, 732.22382%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] image Credit: fortuneindia.com

How to use telegram as a good source for traffic generation

[{"selector":"#anim-b54c27a0-b542-4b23-939e-ce408dcb50bb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-29.89830752320419%, 0, 0) translate(0%, 0%) scale(1)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-7a3d867e-3dc7-4fc7-9c9f-73af6e128db2","keyframes":{"transform":["translate3d(-118.97106%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eb9aef26-b415-4bd1-8d3f-c08d28c6b21d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9ce58c99-3ef2-4b23-ac51-49337bd82db1","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-c9ee9be7-3885-4be8-88fa-3f08481268a0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-80d3ad51-d44e-4048-9675-750d4a41a769","keyframes":{"transform":["translate3d(0px, 732.22382%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] image Credit: fortuneindia.com

Know all about PayTM Crisis and RBI Ban

Understanding the paytm crisis

RBI has prohibited Paytm payments bank ltd. from accepting new deposits.

The reason for the same is “persistent non-compliance” with the RBI regulations.

All this happened on January 31, 2024 leaving everyone concerned and confused.

What went wrong?

Millions of accounts lacked proper KYC, raising concerns of security and money laundering.

RBI claims that PPBL financial statements are inaccurate or misleading.

PPBL isn’t securing user’s data properly, or following the RBI’s rule on how it can be sued.

How will it impact the paytm users?

Breathe easy, because your money is safe.

The RBI ban only applies to PPBL’s new deposit function.

Your Paytm wallet and UPI transactions are safe.

Existing funds in your paytm wallet are safe too.

What would be the next move of Paytm or RBI?

Paytm is collaborating with RBI to solve compliance issues and regain its license.

Payment is looking for partnership with other banks to continue payment processing.

What do you learn from the RBI vs Paytm case?

Stick to official sources for information like Paytm, RBI or other trusted websites.

Make sure that your KYC details are updated with your payment providers.

Use only regulated and authorized financial sources.

How to use telegram as a good source for traffic generation

Continue Reading