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-   -   RBI asks PayTM Bank to wrap up all operations by March 15 (https://www.team-bhp.com/forum/shifting-gears/276408-rbi-asks-paytm-bank-wrap-up-all-operations-march-15-a-14.html)

I could be wrong but this looks like agreement between One97 (OCL) and Axis, which basically means OCL will now use Axis instead of PPBL. This agreement does not involve PPBL yet but there could be discussions going on internally about PPBL wallets & fastags.

OCL might just open a new wallet with Axis and provide a new fastag from Axis. They could also transfer existing balances from PPBL wallet to Axis wallet. RBI has previously mandated banks to enable wallet to wallet transfers, although to my knowledge, no bank has implemented it yet.

If such a scenario plays out then it would basically mean PPBL gets shut down and PayTM app pivots into a third party like phone-pe or amazon-pay etc.

I gave in the waiting game as I am traveling and my family has to use the car at home. I initiated closure of tag in PayTM just today and guess it would take a week to get the hold balance to release.

Though I have ICICI bank account, I opted to get it from nearby toll plaza as it has to be used from tomorrow. They asked for AADHAR and PAN numbers for KYC apart from vehicle number(strangely it is just DL and RC for IDFC) and got it activated immediately.

I was charged 500 and was told 100 is for tag, 200 is security deposit and 200 threshold balance. Is this correct? How much we have to pay when applying online?

Initially, when the toll plaza guy added the tag in Gpay, it showed 300 balance. Now it shows only 100. Does it mean 200 become threshold balance and cannot be used?

And does it mean it does not have any usable balance? Do I have to recharge to start using the tag?

Now, can I see the Tag in my netbanking as my mobile number is same and manage it there like statement? Or can I link my Fastag manually in ICICI login.

ICICI shows an etoll app to download statement but it doesn't recognize my customer ID.

I bought Amazon Pay ICICI Fastag online yesterday.

I tried to see my fastag in ICICI mobile App but it was not there.

I manually added and I can see it now. There are few options to manage/recharge it as well.

It is the same when bought online. Yesterday I bought the Amazon Pay ICICI tag (which essentially redirects us to ICICI tag website only), and paid this amount having same break-up.

Ok. I got this link https://fastaglogin.icicibank.com/CU...omerInBox.aspx and used mobile number to login and as expected KYC was not done with only PAN card number entered to associate tag. I entered ID details, verified and uploaded documents and it created a customer ID and wallet so that multiple tags can be added. After that, generated Password using Forgot password. Now etoll website and mobile app is working. It essentially created a wallet which can be recharged and then it can be moved to tag balance, I believe. This is now delinked to my ICICI bank account as customer ID is different. I am perfectly okay with this arrangement.

No, I have been scammed in the toll plaza in Fastag purchase. So in my login it shows 100 tag fee, 100 as security deposit with 50% waiver of deposit and that 100 as balance. They submitted only 300 to ICICI. This is clearly shown in transaction statement of today. I should have been charged 300 only but was charged 500. If I surrender now, I will get only 200 back. For you, it will be 400 as deposit and balance return.

I always believed that ordering anything in faceless mode is better and avoid people in between who try to cheat you irrespective of the amount. This instance proves it yet again. I should have been careful but will anyway raise a complaint with ICICI as don't know how many are scammed this way :crying

Yes, even I paid Rs.499.12 but it has 99.12 tag fee, 200 security deposit and Rs.200 balance.

Front page of today's TOI.

Not sure how much longer they will continue to mislead the public and continue the fraud. I do not think they are allowed to link up to another bank. Even pass through services will get prohibited.

The latest RBI directive:

The Reserve Bank of India (RBI) on February 23 said it has advised National Payments Corporation of India (NPCI) to examine the request of One97 Communication Ltd (OCL) to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app.

The central bank further advised that in the event of NPCI granting TPAP status to OCL, it may be stipulated that ‘@paytm’ handles are to be migrated in a seamless manner from Paytm Payments Bank to a set of newly identified banks to avoid any disruption.

“No new users are to be added by the said TPAP until all the existing users are migrated satisfactorily to a new handle,” RBI said.

Link to article

Latest on Paytm - Paytm gets third-party licence before March 15 deadline - https://www.livemint.com/companies/n...422883824.html
Licence will provide Paytm's customers another option to use its app for payments after its banking arm Paytm Payments Bank, ceases operations by March 15, following regulatory action due to non-compliance with certain norms. Four banks (Axis Bank, HDFC Bank, State Bank of India, YES Bank) shall act as PSP (Payment System Provider)
YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL. "@Paytm" handle shall be redirected to YES Bank

I have some 300 rupees in the paytm wallet. but it does not allow me to use that amount anywhere. tried with paytm qr code at different shops, it fails.

What options do i have to retrieve that amount? KYC for the wallet not done. Doing KYC now, is it possible?

You should be able to use the balance at PayTM QRs. I had some 1K in the wallet in anticipation of fastag needs but then I changed the fastag. I was able to use the 1K in the wallet (now only less than Rs. 20 is there) by paying through PayTM QR codes in most shops.