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Can you get cashback or refunds in Paytm wallet after March 15?

Paytm Wallet: After March 15, you will not be able to top-up or transfer money into the wallet.

Published on: Feb 20, 2024 12:26 PM IST
By HT News Desk
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The Reserve Bank of India (RBI) extended the last date of restrictions on Paytm Payments Bank to March 15 from February 29. The central bank had earlier barred Paytm Payments Bank from receiving deposits, top-ups, or credit transactions into its wallets or accounts after the deadline.

Read more: Paytm invalid for FASTag: These are 32 authorised banks you can use

Paytm Wallet: A QR code of Paytm is seen at a mobile repairing shop in Kolkata, India. (Reuters)
Paytm Wallet: A QR code of Paytm is seen at a mobile repairing shop in Kolkata, India. (Reuters)

“No further deposits or credit transactions or top-ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc. after March 15, 2024 (extended from the earlier stipulated timeline of February 29, 2024), other than any interest, cashback, sweep in from partner banks or refunds which may be credited anytime," it had earlier said.

Can you receive cashback and refunds after March 15?

Read more: Paytm FASTag: How to delete your FASTag account from Paytm Payments Bank?

Refunds and cashbacks are allowed to be credited after March 15. This means that you can keep using, withdraw from, or transfer to another wallet or bank account from the money you have in the account. However, after March 15, you will not be able to top-up or transfer money into the wallet. You will also not be able to receive any credits, other than cashbacks, or refunds into this wallet.

Read more: Paytm Fastag Deactivate: How to do it, a step by step guide for you

What are the credits which are not permitted?

You can close the Paytm wallet and transfer the money to another bank account using Paytm Payments Bank's banking app.

 
ABOUT THE AUTHOR
HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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