RBI Banned PAYTM? ❌ Why India's Reserve Bank has Halted Payments
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More than 1,000 users were found to have linked the same Permanent Account Number (PAN) to their accounts. The compliance submitted by the bank was found to be incorrect during verification processes conducted by both the RBI and auditors.
While user deposits in savings accounts, wallets, FASTags, and NCMC accounts are not immediately affected, the company will have to rely on third-party banks for its operations until February 29.
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