fin tech major PTM payments Bank has been barred from offering all core services under the RB order that comes into effect from March Now this order, while it is not technically a cancellation of their licence, it is due to persistent non compliance as per RBPTM, on the other hand, has said they are taking steps to comply with RB directions for the payments bank. However, the shares have plunged as much as 40% in two days. Now ND TV has been speaking to consumers and the big questions they have are can they still continue to use paytm payment services on their phones? Use it for their transactions as they really do? Well, the answer to that is yes, as the RBI order, remember is on the payments bank division only. The other key question coming in is, Can fast tax still be used? The answer to that is, your existing balance can be used. However, no fresh fund can be added after this month end, and to those saying what if they have a paytm fast tag? Will they can purchase a new tag from other issuers and deactivate the existing one. And if you're sitting at home and wondering what, then is the way out for Paytm and this crisis will analysts believe uncertainty persists in the near term and currently this is just a halt on their payments bank services. So there is a window to appeal and figure out a solution for the long run.
