Paytm shifts nodal account to Axis Bank

PTI

Updated At : 12:31 PM Feb 17, 2024 IST

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New Delhi, February 16

Fintech firm One97 Communications, the owner of the brand Paytm, has shifted its nodal account to Axis Bank from Paytm Payments Bank.

The move will allow continuity of Paytm QR, Soundbox, card machine after the March 15 set by the Reserve Bank of India (RBI), as per a regulatory filing.

The RBI has advised customers and merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15, giving 15 more days to the beleaguered entity to close most of its operations.

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