Paytm Payments Bank To Close THESE Wallets From July 20: Read In Detail

This follows a directive from the Reserve Bank of India (RBI) in March.
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Paytm Payments Bank (Image Source: Twitter)

Paytm Payments Bank Limited (PPBL) has announced that it will close all wallets with zero balance and no transactions for over a year starting on July 20, 2024. This means if you have a Paytm Wallet that hasn't been used and has no money in it for more than a year, it will be closed.

What PPBL Said On Its Website?

PPBL stated on its website that users with these inactive wallets will receive a notification and a 30-day notice before their wallets are closed.
"Please note that all wallets which do not have any transactions for the last 1 year or more and have nil balance, shall be closed w.e.f. July 20th, 2024," the notice from PPBL said.

RBI Order Regarding This

This follows a directive from the Reserve Bank of India (RBI) in March, which instructed PPBL to stop accepting new deposits and authorizing credit transactions after March 15, 2024.

Can Users Withdraw Existing Balances?

However, users can still withdraw existing balances without any restrictions.
End of Article
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