RBI bars Paytm Payments Bank from offering services starting March
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The Reserve Bank of India has placed limitations on Paytm Payments Bank, barring it from accepting deposits or top-ups in customer accounts, wallets, and FASTags after February 29, 2024. This move comes after a thorough system audit and compliance validation by external auditors, which exposed ongoing non-compliance issues and significant supervisory concerns within the bank. However, the order doesn't affect Paytm's UPI service.