RBI asks PayTM Bank to wrap up all operations by March 15

mithun · 8th February 2024, 17:32

Anyone got the Paytm FASTag refund after cancelling it?

BhayanaV · 8th February 2024, 19:34

Quote:

Originally Posted by NiInJa

I don't think it will work. If my understanding is correct, since Paytm payments bank and wallet itself is closing down, the fastag will stop working once the remaining balance in the wallet is over (as you cannot top up the wallet further)
.

Seems to be the situation, unless govt helps in moving the paytm fastag customers to some other platform. Its a huge number of users.

govigov · 10th February 2024, 01:19

I am one of the holders of PayTM Fastag. A few days ago I drained my PayTM wallet and moved money to my SB Account. Then requested for an ICICI Fastag from netbanking as I am already an ICICI bank account holder. The ICICI Fastag was delivered today and I was able to reload the Fastag. You can reload the ICICI Fastag from (a) netbanking login OR (b) dedicated ICICI Fastag Portal or (c) via UPI from Gpay. I was able to reload the Fastag using UPI from Gpay using my HDFC Rupay CreditCard. I am yet to test out the ICICI Fastag at a toll. I have found that you cannot see your ICICI Fastag statement from you SB Account login, you have to go the dedicated ICICI fastag portal for that, or use a seperate dedicated official app to get this data.

I have requested closure of PayTM Fastag today. 400 rs to be refunded in about 7 to 10 days. I have a few monies left in the PayTM wallet for emergency outstation journey. All this combined amount will be removed once PayTM Fastag closure is complete.

Aviator_guy · 10th February 2024, 08:41

Quote:

Originally Posted by govigov

Then requested for an ICICI Fastag from netbanking as I am already an ICICI bank account holder. The ICICI Fastag was delivered today and I was able to reload the Fastag. You can reload the ICICI Fastag from (a) netbanking login OR (b) dedicated ICICI Fastag Portal or (c) via UPI from Gpay. I was able to reload the Fastag using UPI from Gpay using my HDFC Rupay CreditCard.

Since your tag is linked to savings account, you can also use automatic reload option (auto recharge once balance goes below a threshold).

adisan · 10th February 2024, 09:49

Quote:

Originally Posted by govigov

You can reload the ICICI Fastag from (a) netbanking login OR (b) dedicated ICICI Fastag Portal or (c) via UPI from Gpay. I was able to reload the Fastag using UPI from Gpay using my HDFC Rupay CreditCard.

Quote:

Originally Posted by Aviator_guy

Since your tag is linked to savings account, you can also use automatic reload option (auto recharge once balance goes below a threshold).

Are convenience charges levied for any of these?

Aviator_guy · 10th February 2024, 11:09

Quote:

Originally Posted by adisan

Are convenience charges levied for any of these?

No extra charges for UPI or auto load via bank account. Not sure about recharge via credit card.

govigov · 10th February 2024, 11:50

Quote:

Originally Posted by adisan

Are convenience charges levied for any of these?

Quote:

Originally Posted by Aviator_guy

No extra charges for UPI or auto load via bank account. Not sure about recharge via credit card.

NO additional charges for reloading Fastag via Rupay credit card.

Turbo_Charger · 10th February 2024, 13:25

Here's an update on the Paytm Saga. Things don't look rosy for the company as a whole. There are doubts if UPI will continue to work post February 29 on Paytm App because their UPI is linked to Paytm Payments Bank and they don't have neither an alternative bank nor a Third Party License to onboard another bank in future.

RBI asks PayTM Bank to wrap up all operations by March 15-screenshot_2024_0210_131720.jpg

Source

binand · 13th February 2024, 07:53

RBI rules out any review of the action against Paytm:

https://www.thehindu.com/business/In...le67838052.ece

Seems like the end of the road for PPBL unless a court looks upon them kindly.

DigitalOne · 13th February 2024, 08:17

Quote:

Originally Posted by Turbo_Charger

Here's an update on the Paytm Saga. Things don't look rosy for the company as a whole. There are doubts if UPI will continue to work post February 29 on Paytm App because their UPI is linked to Paytm Payments Bank ....

Thanks for this important update. I am a Paytm UPI user, with linked bank accounts to ICICI and IDFC. Will see if the respective bank apps can serve as alternatives for a few days before switching to GPay or PhonePe.

Comrade · 14th February 2024, 16:15

Seems ED is after PayTM now. Must have ruffled some feathers to be this deep in the soup!

https://x.com/CNBCTV18News/status/17...810686204?s=20

RBI asks PayTM Bank to wrap up all operations by March 15-img_1322.jpeg

Venkatesh · 16th February 2024, 18:35

RBI gives 15-day relaxation to Paytm, extends the date to 15th March from the earlier stipulated timeline of February 29, 2024.

RBI asks PayTM Bank to wrap up all operations by March 15-screenshot_20240216183350_drive.jpg

volkman10 · 16th February 2024, 19:19

NHAI has removed PayTM Payments bank from the list of authorized banks for FASTag service.

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Views: 132
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Link:

Amrit@wheels · 16th February 2024, 23:19

Will this make any difference?
https://www.ndtv.com/business-news/p...ndtv_topscroll

monish_m · 18th February 2024, 11:37

Looks like no hope left for Paytm fastag. Originally was planning to load a certain amount on the wallet and keep it for the fastag, now am not too sure.

Planning to move to ICICI fastag, any feedback.

Thanks.

8th February 2024, 17:32	#181
mithun BANNED Join Date: Jan 2006 Location: Cochin Posts: 2,195 Thanked: 269 Times	Re: RBI asks PayTM Bank to wrap up all operations by March 15 Anyone got the Paytm FASTag refund after cancelling it?
	() Thanks

10th February 2024, 01:19	#183
govigov Senior - BHPian Join Date: Oct 2007 Location: Cochin!!!!! Posts: 1,739 Thanked: 1,222 Times View My Garage	Re: RBI asks PayTM Bank to wrap up all operations by March 15 I am one of the holders of PayTM Fastag. A few days ago I drained my PayTM wallet and moved money to my SB Account. Then requested for an ICICI Fastag from netbanking as I am already an ICICI bank account holder. The ICICI Fastag was delivered today and I was able to reload the Fastag. You can reload the ICICI Fastag from (a) netbanking login OR (b) dedicated ICICI Fastag Portal or (c) via UPI from Gpay. I was able to reload the Fastag using UPI from Gpay using my HDFC Rupay CreditCard. I am yet to test out the ICICI Fastag at a toll. I have found that you cannot see your ICICI Fastag statement from you SB Account login, you have to go the dedicated ICICI fastag portal for that, or use a seperate dedicated official app to get this data. I have requested closure of PayTM Fastag today. 400 rs to be refunded in about 7 to 10 days. I have a few monies left in the PayTM wallet for emergency outstation journey. All this combined amount will be removed once PayTM Fastag closure is complete.
	(1) Thanks

10th February 2024, 13:25	#188
Turbo_Charger BHPian Join Date: Oct 2010 Location: Driving Posts: 63 Thanked: 240 Times	Re: RBI asks PayTM Bank to wrap up all operations by March 15 Here's an update on the Paytm Saga. Things don't look rosy for the company as a whole. There are doubts if UPI will continue to work post February 29 on Paytm App because their UPI is linked to Paytm Payments Bank and they don't have neither an alternative bank nor a Third Party License to onboard another bank in future. Source
	(2) Thanks

13th February 2024, 07:53	#189
binand Senior - BHPian Join Date: Dec 2008 Location: Bangalore Posts: 3,843 Thanked: 6,158 Times	Re: RBI asks PayTM Bank to wrap up all operations by March 15 RBI rules out any review of the action against Paytm: https://www.thehindu.com/business/In...le67838052.ece Seems like the end of the road for PPBL unless a court looks upon them kindly.
	(1) Thanks

14th February 2024, 16:15	#191
Comrade BHPian Join Date: Jul 2008 Location: HYD Posts: 695 Thanked: 2,024 Times	Re: RBI asks PayTM Bank to wrap up all operations by March 15 Seems ED is after PayTM now. Must have ruffled some feathers to be this deep in the soup! https://x.com/CNBCTV18News/status/17...810686204?s=20
	(2) Thanks

16th February 2024, 18:35	#192
Venkatesh Distinguished - BHPian Join Date: Feb 2020 Location: Hyderabad Posts: 8,723 Thanked: 47,822 Times	Re: RBI asks PayTM Bank to wrap up all operations by March 15 RBI gives 15-day relaxation to Paytm, extends the date to 15th March from the earlier stipulated timeline of February 29, 2024.
	(1) Thanks

16th February 2024, 19:19	#193
volkman10 Distinguished - BHPian Join Date: Dec 2010 Location: -- Posts: 25,817 Thanked: 79,204 Times View My Garage	Re: RBI asks PayTM Bank to wrap up all operations by March 15 NHAI has removed PayTM Payments bank from the list of authorized banks for FASTag service. Link: Last edited by volkman10 : 16th February 2024 at 19:21.
	(1) Thanks

16th February 2024, 23:19	#194
Amrit@wheels BHPian Join Date: Sep 2023 Location: UK03/04/06/07 Posts: 398 Thanked: 971 Times	Re: RBI asks PayTM Bank to wrap up all operations by March 15 Will this make any difference? https://www.ndtv.com/business-news/p...ndtv_topscroll
	() Thanks

18th February 2024, 11:37	#195
monish_m BHPian Join Date: Mar 2021 Location: Bangalore Posts: 79 Thanked: 58 Times	Re: RBI asks PayTM Bank to wrap up all operations by March 15 Looks like no hope left for Paytm fastag. Originally was planning to load a certain amount on the wallet and keep it for the fastag, now am not too sure. Planning to move to ICICI fastag, any feedback. Thanks.
	() Thanks