Paytm Wallet is going to end from 23 May

Very famous Digital Wallet company of India Paytm has received the final statement from the Reserve Bank of India (RBI) and is set to launch Paytm Payments Bank on May 23,by ending its Paytm Wallets which is going to be converted into Paytm Payments banks.

 According to a statement from One97 Communications Pvt. Ltd, which owns Paytm Wallet, the payment bank operations will start from May 23.In the month of January, Paytm had said it received the final approvals from the RBI and was planning to start payments bank in one or two months, but the launch was very much delayed.In the same month of January,Bharti Airtel Ltd commenced operations for Airtel Payments Banks, a joint venture between Bharti Airtel Ltd and Kotak Mahindra Bank Ltd.Paytm said that all active wallet accounts on the payments app will be transferred to the payments bank.

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Location: India

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