Digital payments and services app Paytm is working and will continue to work as usual even after February 29, its CEO Vijay Shekhar Sharma said on Friday.
The founder and CEO of One97 Communications Ltd (OCL), which owns Paytm brand, on social media platform X said the company is committed to serving the nation in full compliance.
“To every Paytmer, Your favourite app is working, will keep working beyond 29 February as usual,” Sharma said.
RBI has barred Paytm Payments Bank Ltd (PPBL) from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
OCL holds a 49 per cent stake in PPBL but classifies it as an associate of the company and not as a subsidiary.
“I with every Paytm team member salute you for your relentless support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance. India will keep winning global accolades in payment innovation and inclusion in financial services – with PaytmKaro as the biggest champion of it,” Sharma said.