{"id":1278790,"date":"2024-02-09T10:46:34","date_gmt":"2024-02-09T05:16:34","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1278790"},"modified":"2024-02-09T10:46:54","modified_gmt":"2024-02-09T05:16:54","slug":"rbi-can-start-migrating-paytm-users-merchants-to-other-banks-will-paytm-payments-bank-shut-down","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/rbi-can-start-migrating-paytm-users-merchants-to-other-banks-will-paytm-payments-bank-shut-down\/","title":{"rendered":"RBI Can Start Migrating Paytm Users, Merchants To Other Banks; Will Paytm Payments Bank Shut Down?"},"content":{"rendered":"\n<p>The Reserve Bank of India plans issuing clarifications next week regarding merchant and consumer account <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/startups\/rbi-to-call-on-nhai-npci-to-fix-rescue-plan-for-paytm-users\/articleshow\/107534370.cms?from=mdr\">migration<\/a> from Paytm after ordering sweeping restrictions on its payments bank. FAQs intend addressing operational transition issues like QR code transfers, given abrupt disabling triggering uncertainty.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-11-1280x720-1-1024x576.jpeg\" alt=\"RBI Can Start Migrating Paytm Users, Merchants To Other Banks; Will Paytm Payments Bank Shut Down?\" class=\"wp-image-1278793\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-11-1280x720-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-11-1280x720-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-11-1280x720-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-11-1280x720-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>RBI governor Shaktikanta Das underlined proportional interventions are last resorts for systemic stability after constructive engagement efforts fail. Hence guidancedocumentation will steer coordinated switches to bank alternatives avoiding disruptions across payment rails and wallets.<\/p>\n\n\n\n<p><strong>Meetings Finalizing Transition Protocols<\/strong><\/p>\n\n\n\n<p>Ahead of the FAQ release, RBI meets with authorities like NHAI governing FASTag rollouts or NPCI overseeing UPI this week outlining rulebooks for seamless customer experience despite disabling at short notice.<\/p>\n\n\n\n<p>Paytm earlier indicated it would assist data portability to new banking partnersfor 300 million+ users, but additional policy guardrails provide transparency easing anxieties. However, analysts argue the shakeup dents partner trust despite RBI emphasizing depositors&#8217; interests can&#8217;t be compromised.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of India plans issuing clarifications next week regarding merchant and consumer account migration from Paytm after ordering sweeping restrictions on its payments bank. FAQs intend addressing operational transition issues like QR code transfers, given abrupt disabling triggering uncertainty. RBI governor Shaktikanta Das underlined proportional interventions are last resorts for systemic stability after [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1278793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[765,968,185],"class_list":["post-1278790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-paytm","tag-paytm-payments-bank","tag-rbi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBI Can Start Migrating Paytm Users, Merchants To Other Banks; Will Paytm Payments Bank Shut Down? - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/rbi-can-start-migrating-paytm-users-merchants-to-other-banks-will-paytm-payments-bank-shut-down\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI Can Start Migrating Paytm Users, Merchants To Other Banks; Will Paytm Payments Bank Shut Down? - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of India plans issuing clarifications next week regarding merchant and consumer account migration from Paytm after ordering sweeping restrictions on its payments bank. FAQs intend addressing operational transition issues like QR code transfers, given abrupt disabling triggering uncertainty. RBI governor Shaktikanta Das underlined proportional interventions are last resorts for systemic stability after [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/rbi-can-start-migrating-paytm-users-merchants-to-other-banks-will-paytm-payments-bank-shut-down\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-09T05:16:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-09T05:16:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-11-1280x720-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mohul Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohul Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/rbi-can-start-migrating-paytm-users-merchants-to-other-banks-will-paytm-payments-bank-shut-down\/\",\"url\":\"https:\/\/trak.in\/stories\/rbi-can-start-migrating-paytm-users-merchants-to-other-banks-will-paytm-payments-bank-shut-down\/\",\"name\":\"RBI Can Start Migrating Paytm Users, Merchants To Other Banks; Will Paytm Payments Bank Shut Down? 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