Paytm will continue to function as usual even after February 29. Chief Executive Officer Vijay Shekhar Sharma has said that the 'Paytm' app will continue to function as usual even after the 29th.
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Can we use Paytm after 29 Feb
Recently the Reserve Bank has banned the acceptance of Paytm and Payments Bank deposits after February 29.
Also, savings It also said that its customers will be allowed to withdraw or use balances in bank accounts, business accounts, prepaid instruments, etc. without any restrictions as long as their balance is available.
In this regard, Vijay Shekhar Sharma has posted on his social networking site: Paytm app
After February 29th, it will continue to function as usual. We see the RBI directive as a major speed bump.
However, with our partnerships with other banks and the capabilities we have already built, we believe we can recover from this in the next few days or quarters.
This is what he posted.
In the meantime, Paytm is consulting with other banks so that its customers are not affected by the bank's suspended operations, and the company has said that due to the RBI's action, the company's annual profit will be affected by Rs 300 crore to Rs 500 crore.