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Paytm Assures Uninterrupted Services After RBI Cancels PPBL Licence

One 97 Communications has assured that all its key services, including Paytm app, UPI, QR, and payment gateway, will continue uninterrupted after the RBI cancelled PPBL's banking licence. The company clarified it has no exposure or material business arrangements with PPBL, which operates independently. Paytm stated there is no direct financial impact, as its investment in PPBL was already impaired as of March 2024. The RBI's action is directed solely at PPBL and does not affect the listed entity's operations.

Key Points: Paytm Services Uninterrupted After RBI Action on PPBL

  • Paytm's key services (app, UPI, QR, Soundbox) remain unaffected
  • RBI cancels PPBL's banking licence effective April 24, 2026
  • One 97 Communications has no material business arrangement with PPBL
  • No direct financial impact as investment in PPBL already impaired
2 min read

Paytm says app, UPI, QR, Soundbox, Payment Gateway services to continue uninterrupted after RBI action on PPBL

Paytm says its app, UPI, QR, and payment gateway will continue normally after RBI cancels PPBL's banking licence, with no direct impact on operations.

"The Company does not have any exposure to PPBL or any material business arrangements with PPBL - One 97 Communications"

New Delhi, April 24

One 97 Communications Limited on Thursday said its key services, including the Paytm app, Paytm UPI, Paytm QR, Soundbox, card machines and Payment Gateway, will continue to operate uninterrupted despite regulatory action against its associate entity, Paytm Payments Bank Limited, by the Reserve Bank of India.

In an exchange filing, the company clarified that its broader ecosystem, including Paytm Gold and Paytm Money, remains unaffected and will continue normal operations.

The statement comes after the RBI, in a press release dated April 24, cancelled the banking licence of Paytm Payments Bank Limited with effect from the close of business on April 24, 2026.

"As previously disclosed on March 1, 2024, the Company does not have any exposure to PPBL or any material business arrangements with PPBL. No services provided by the Company are in partnership with PPBL. Additionally, PPBL operates independently, with no board or management involvement from the Company," the company said in its exchange filing.

The company also said there is no direct financial impact, noting that it had already impaired its investment in PPBL as of March 31, 2024.

Reassuring stakeholders, Paytm said its services have been operating without interruption and will continue to do so, underlining that the RBI's action should be viewed strictly in the context of PPBL and not the listed entity.

The RBI has cancelled the banking licence of Paytm Payments Bank Limited, citing regulatory violations and concerns over the bank's operations.

- ANI

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Reader Comments

S
Sarah B
As someone who's used Paytm since 2017, this is reassuring. But honestly, it's about time RBI took action. Paytm Payments Bank has been on shaky ground for a while. Just hope they sort out the regulatory issues quickly so customers don't suffer in the long run.
V
Vikram M
Good move by Paytm to clarify this separately. The market was getting jittery. But I think many small merchants who rely on Paytm Soundbox and QR for daily transactions might still be confused. Hope they communicate this better in Hindi and regional languages too.
J
James A
RBI doing its job properly. But Paytm shareholders must be sweating. The stock already took a hit earlier. Now with this 2026 deadline, there's still uncertainty. I've already moved some of my money out of PPBL accounts. Safety first.
P
Priya S
It's good that Paytm Gold and Paytm Money are unaffected. I use Paytm Money for mutual funds. But honestly, this whole episode has shaken trust in digital payment companies. RBI needs to ensure better compliance before such issues arise. 😊
R
Rohit P
Typical confusion in Indian markets! News spreads fast, but clarity takes time. Paytm should have put out this statement earlier to avoid panic. Anyway, happy that UPI and QR continue. Can't imagine standing in queues again for cash. Digital payments ka future safe hai! 🚀

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