About this episode
The Reserve Bank of India has barred Paytm from continuing all its banking services via Paytm Payments Bank after February 29. It's been operational since 2017 and its services include current and savings accounts, fixed deposits with partner banks, and balance in wallets, UPI, and FASTag, among other services.
The RBI has basically said it cannot take any more deposits or conduct credit transactions. This also means no top-ups on any customers accounts, prepaid instruments, wallets, and cards for paying road tolls. And this means, Paytm has three challenges it needs to win…and all of it by the end of this month. First, it needs to figure out a nodal banking partner where it will hold fund on behalf of its customers. Then, it needs to untangle its business from Paytm Payments Bank. And finally, it needs to do all of this without losing its existing customers.
Each of these is more important than the other.
Tune in
Get every episode summarized
Each time Daybreak publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from Daybreak
This week in AI: activist robots, doom-laden researchers — so who's the good guy...
Daybreak
India has more tourists than ever. So why is tourism in trouble?
Daybreak
The Government sold Air India to escape its problems. The fix is to buy back in
Daybreak
Nykaa cracked fashion at last. Myntra sees no reason to panic
Daybreak