Paytm Payment Bank News: Big news has come out regarding Paytm. Today the Reserve Bank of India (RBI) has canceled the banking license of Paytm Payments Bank. This means that Paytm will no longer be able to do banking related business in future. RBI has said that Paytm was repeatedly violating the license conditions. After this, the banking license of the company had to be canceled in view of serious regulatory concerns. After this step of RBI, there is a question in everyone’s mind whether now payment will be possible through Paytm app or not. Know.

Actually, cancellation of banking license of Paytm Payments Bank will affect Paytm users also. Now people will not be able to deposit new money in Paytm Bank. This will have a direct impact on the services available in your savings account, fixed deposit and wallet.

Many small shopkeepers and street vendors used to use Paytm Bank only, they may suddenly face problems in receiving and settling payments. However, to make direct payment through Paytm, it is necessary to have a bank link. In such a situation, when you make payment through QR code, the money is deducted directly from your bank account. In such a situation, cancellation of license will not affect it.

Recharging FASTag will be difficult!

But the big thing is that if your FASTag or wallet is linked to Paytm Bank then it will be difficult to recharge or use it. However, canceling the license is a sign that the government wants to protect your money from being put at a big risk. With such strictness, other banks will also remain alert and follow the rules, which will reduce the possibility of any major banking scam in future.

Don’t worry, your money is safe

If there is balance in your account then do not panic. RBI usually gives time and convenience to customers to withdraw their money or transfer it to another bank. Currently, you can link your UPI and other payment methods to any other mainstream bank, so that you do not have to face difficulties in making payments.

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