RBI Released FAQ:The Reserve Bank of India (RBI) has imposed a ban on taking deposits against Paytm Payments Bank. RBI Governor Shaktikanta Das had made it clear that lifting the ban on the bank would not be considered. However, to address the concerns of crores of customers of the bank, they have issued FAQs (Frequently Asked Questions). In these, the solution to all your problems has been provided by RBI. Let us clarify for you the answers to your UPI, IMPS and NCMC card related questions through this FAQ.
Question – Can I do UPI and IMPS in Paytm Payments Bank account after March 15?
Answer – No, you will not be able to transfer money to your account after March 15.
Question – Can I withdraw money from Paytm Payments Bank account through UPI and IMPS after March 15?
Answer – Yes, you will be able to withdraw money from your account.
Question – Can I make payment through Bharat Bill Payments System (BBPS) using Paytm Payments Bank Account after March 15?
Answer – Yes, you can use the money deposited in Paytm Payments Bank account for bill payment. But, you will not be able to deposit money in your account or wallet. Therefore, our advice is to use any other bank account for BBPS before March 15.
Question – Can I withdraw money from Paytm Payments Bank account after March 15 using Biometric Payment System (AePS Authentication) through Aadhar Card?
Answer – Yes, you can withdraw the money deposited in Paytm Payments Bank account through this system.
Question – I have a National Common Mobility Card (NCMC Card) issued by Paytm Payments Bank. Can I use it even after March 15?
Answer – Yes, you can use NCMC card. But, you will not be able to top it up after March 15. Therefore, to avoid inconvenience, use a card issued by any other bank.
Question – I have a National Common Mobility Card issued by Paytm Payments Bank. Can I top up or recharge it after March 15?
Answer – No, you will not be able to top up or recharge the NCMC card after March 15. Therefore, to avoid inconvenience, use a card issued by any other bank.
Question – Can I transfer the balance of National Common Mobility Card issued by Paytm Payments Bank to any other bank NCMC card?
Answer – No, NCMC card does not have balance transfer facility. Therefore, you should use the money deposited in it. If balance is left, refund can be demanded from Paytm Payments Bank.
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