After RBI action, when will Paytm Payments Bank customers get their money back?
Indian Express·3h ago·Neutral
What Happened
RBI scrapped Paytm Payments Bank's banking licence Friday, raising customer concerns about deposit safety. The bank assured customers their funds are secure and stated it has sufficient liquidity to repay all deposits. RBI confirmed the bank possesses adequate resources for complete deposit repayment during wind-down. Clarity on refund mechanisms and timelines expected soon.
Key Entities
Paytm Payments Bank Ltd (PPBL)Reserve Bank of India (RBI)One97 CommunicationsVijay Shekhar Sharma