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Saturday, April 13, 2024

Axis Bank becomes the central account of Paytm


<p>The owner of the Paytm brand, One97 Communications, a fintech company, has moved its nodal account from Paytm Payments Bank to Axis Bank.</p>
<p><img decoding=”async” class=”alignnone wp-image-416952″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-axis-bank-becomes-the-central-account-of-paytm-2024-2largeimg-175399689.jpg” alt=”theindiaprint.com axis bank becomes the central account of paytm 2024 2largeimg 175399689″ width=”1073″ height=”714″ title=”Axis Bank becomes the central account of Paytm 27″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-axis-bank-becomes-the-central-account-of-paytm-2024-2largeimg-175399689.jpg 660w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-axis-bank-becomes-the-central-account-of-paytm-2024-2largeimg-175399689-150×100.jpg 150w” sizes=”(max-width: 1073px) 100vw, 1073px” /></p>
<p>According to a regulatory filing, the action would enable the continued use of the Paytm QR, Soundbox, and card machine beyond the March 15 deadline imposed by the Reserve Bank of India (RBI).</p>
<p>Customers and merchants of Paytm Payments Bank Ltd (PPBL) have been instructed by the RBI to move their accounts to other banks by March 15 in order to give the struggling company an additional 15 days to shut down the majority of its activities.</p>


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