Neha Nagar Instagram – Paytm is going to shut down?
What will happen to my Fastag?
What will happen to my wallet?
My Paytm Gold?
I received many such comments when I posted a video saying that the RBI has imposed restrictions not on Paytm but on Paytm payment banks.
Paytm’s parent company, One 97 Communications, has several companies under its empire that start with the word “Paytm”, eg – Paytm, Paytm Payment Banks, Paytm Money, etc.
Now, RBI’s restrictions are only on Paytm Payment Banks, but some of Paytm’s features, such as wallet, fastag, and soundbox, used Paytm Payment Banks for their services.
Paytm Payment Banks’ services will be shut down from February 29th, so Paytm will have to tie up with another bank before February 29th to run these services.
After that, Paytm wallet, fastag, soundbox, will continue to run even after February 29th.
But now, due to taking external banks’ services, Paytm will suffer a loss of 300-500 crores every year, due to which Paytm’s stock is down 35% in 2 days.
Reputation is also at stake due to confusion over similar names !
If you still have any doubts, the comments are open.
Neha Nagar , Paytm , Stock Market, Personal Finance | Posted on 02/Feb/2024 22:35:07
