Can you continue to use Paytm FASTag for toll payments? Check RBI FAQs for customers
Business | February 19, 2024 8:37 ISTFASTags issued by Paytm Payments Bank will no longer support top-up or recharge functionalities from March 15 onwards.
FASTags issued by Paytm Payments Bank will no longer support top-up or recharge functionalities from March 15 onwards.
The reversal of the funds is set for February 23 between 10:30 AM and 11:00 AM.
On the BSE, the stock fell by 7.50 per cent to reach Rs 390.90 per share, while on the NSE, it declined by 7.28 per cent to Rs 391.45 per share.
This comes amid the RBI's order, which directed the bank to cease accepting deposits or top-ups in various customer accounts and instruments after February 29.
The real GDP growth for FY25 is forecast at 7 per cent, with growth rates of 7.2 per cent and 6.8 per cent expected in the June and September quarters.
The monetary policy committe led by Shaktikanta Das has kept the repo rates unchanged at 6.50 per cent.
Paytm Payments Bank Limited is prohibited from accepting new deposits, credit transactions, or top-ups in customer accounts, prepaid instruments, wallets, FASTags, and more from February 29 onwards.
The RBI said that customers are permitted to withdraw or utilise balances from their accounts, including savings bank accounts, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards.
The trading hours for the RBI-regulated markets will be from 2:30 pm to 5 pm on Monday, January 22.
Several exchange-traded funds linked to the spot price of Bitcoin began trading in the United States on Thursday after receiving approval from the Securities and Exchange Commission.
The governor's comments were made in response to the recent approval by the US Securities and Exchange Commission for the creation of bitcoin exchange-traded funds (ETFs) in the United States.
Google Pay has recently launched UPI Lite, a feature that enables users to make fast and convenient payments of up to Rs 200 without the need for a UPI PIN. This new addition to the Google Pay platform simplifies small-value transactions, allowing users to make payments quickly and easily.
Reserve Bank of India Governor, Shaktikanta Das, launched the "Har Payment Digital" mission as part of Digital Payments Awareness Week 2023. The goal of the mission is to make every Indian citizen a user of digital payments.
Airtel Payments Bank recently announced that they have been categorised as 'Scheduled Bank' by the Reserve Bank of India.
If the RBI maintains status quo in policy rates on Wednesday, it would be the ninth consecutive time since the rate remains unchanged. The central bank had last revised the policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.
The action has been taken against the firm for failure to comply with a specific direction issued by the RBI with respect to its statutory audit of a Systemically Important Non-Banking Financial Company (NBFC), the central bank said in a statement.
The penalty has been imposed for non-compliance with directions contained in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions under the Supervisory Action Framework (SAF).
The penalty has been imposed for non-compliance with directions issued by RBI on 'Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks' and 'Membership of Credit Information Companies (CICs)'.
After American Express Banking Corp and Diners Club International, Mastercard is the third company to have been barred by RBI from acquiring new customers over data storage issues.
The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 25 lakh on Punjab and Sind Bank for non-compliance with certain provisions of directions on 'Cyber Security Framework in Banks'.
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