RBI imposed ban on 31 January
The financial forum said that One97 Communications Limited (OCL), its subsidiaries and associate PPBL have been receiving notices and demands for information, documents and clarifications from time to time from other departments including ED in respect of customers. All necessary information in this regard is being given to the officials. The Reserve Bank of India (RBI) had on January 31 directed Paytm’s unit Paytm Payments Bank Limited (PPBL) not to accept deposits or top-ups in any customer account, prepaid product, wallet and Fastag after February 29, 2024. . One97 Communications holds 49 percent stake (directly and through its subsidiary) in PPBL. Company founder Vijay Shekhar Sharma holds 51 percent stake in the bank.
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