Paytm to Shift Nodal Accounts and QR Codes to Other Banks Following RBI’s Decision to Terminate Paytm Payments Bank Accounts

Stung by the Reserve Bank decision to terminate the nodal accounts of Paytm after February 29, One97 Communications Ltd (OCL) – which owns Paytm — has indicated that the company will stop its dependency on Paytm Payments Bank Ltd (PPBL) and its nodal accounts and QR codes will be moved to other banks.