RBI asks NPCI to help continue operations of Paytm app

Mumbai, February 23, 2024.

Reserve Bank of India on Friday said NPCI has been asked to examine the possibility of it becoming a third party application provider for continued UPI operations of the Paytm app.

The central bank has barred Paytm Payments Bank from accepting further credits into its customer accounts and wallets after March 15, 2024.

With an aim to ensure seamless digital payments by UPI customers using ‘@paytm’ handle operated by the Paytm Payments Bank, RBI said it has asked the National Payments Corporation of India (NPCI) to examine the request to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app