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Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
This will help avoid penalties or double fee charges while commuting on National Highways.
The extension comes in response to the challenges encountered by Paytm FASTag users.
The shareholders of PPBL have agreed to simplify the shareholders agreement to support PPBL's governance, independent of its shareholders
he State-owned National Highways Authority of India (NHAI) is considering extending the compliance deadline for the 'One Vehicle, One FASTag'.
The RBI had asked Paytm Payments Bank to wind down operations by March 15 due to persistent non-compliances and continued material supervisory concerns.
The RBI has advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15. Here's what the RBI deadline means for Paytm users.
The central bank said this is being done keeping in view the interest of customers.
Tthe RBI directed PPBL to stop accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.
RBI asks Paytm Payments Bank to stop almost all services after Feb 29