Paytm payment Bank get major breakthrough, Reserve Bank of India- RBI allowed to Paytm , Now they can re-open paytm e-Wallet & restart their KYC and Bank account.
RBI allowed Paytm, so from now Paytm can go ahead and start its business in fresh mood. They were blocked by RBI for KYC and open new e-wallet and Bank accounts since last more than five to six months.
Due to violation of KYC – Know-your-customer Norms Vijay Shekhar Sharma’s Co-owned firm One97 Communications had to stop it ongoing KYC and new bank account as well as e-wallets.
REASONS:- Paytm was failed to maintain the rules of maintain an upper limit of Rs.1 lakh per account at the end ot the day, and unable to sustain net worth of Rs 100 crore, due to this violation RBI had taken action.
Now With permission granted from RBI, Paytm payments Bank has been planning to restart KYC process their customers who are still in queue mood and as well as for new customer.
Now there is no obstacle for to their way , So the User and clients of Paytm payments bank and Paytm e-wallets can easily go through the process once it started in a fresh manner.
Paytm Payments Banks Has near about 42 millions of accounts and their target to achieved 100 millions by the end of Year -2019. Their mission is to deliver smoothest Banking service from the urban to rural even remote areas at least every single Indian citizen to enjoy fully cashless Digital transaction experience, with the Help of super fast sophisticated moderns transaction technology.