- Good news for Paytm users!
- Big approval from RBI
- 'Paytm Wallet' will come back again
Paytm Wallet Returns : Nowadays people are moving towards digital age in a big way. The flow of online payments has increased significantly. Since the introduction of online payments, people have reduced the amount of cash they carry. In such circumstances, if the payment usage you are using is banned, “ Wallet Returns)
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Meanwhile, a major update has come out from the RBI i.e. Reserve Bank of India regarding Paytm, raising hopes of the company's relaunch of its wallet service. RBI has given preliminary approval to Paytm's subsidiary to resume services like digital wallet. So this news will be very happy for Paytm wallet users.
When did you get the approval?
Paytm's parent company, One97 Communications, has clarified to the stock market that the RBI has given preliminary approval to its subsidiary, Paytm Payments Services Limited i.e. PPSL. The approval was given today, November 13.
Will Paytm Wallet Relaunch?
Importantly, after getting preliminary approval from RBI, people can feel that Paytm wallet service will start immediately. But in reality it is not. A preliminary approval from RBI does not mean that the Paytm wallet service will be launched immediately. The company has to get final approval from RBI to resume wallet services.
Rules must be followed strictly
Yes, it is true that a company can go ahead with offering services like digital wallets after getting preliminary approval from RBI. But, it is important to follow the RBI August 2021 regulations and any changes made thereto.
Final approval from RBI will be required. Importantly, the company will now have to get another approval from the RBI called 'Certificate of Authority'. After receiving this final approval, the Company will be able to offer Wallet Services to customers.
Paytm users also keep this in mind
Paytm users should wait for wallet services to resume. The company has received preliminary approval from RBI, but the final approval is still pending. Keep an eye on official information coming from the company; Until then, you can use other payment options.
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