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By- Srushti sharma

The RBI ordered Paytm payments bank to stop accepting fresh deposits in its accounts or popular wallets after February 29, 2024.

Through an FAQ Paytm addressed user concerns and queries, after RBI restricted its mobile wallet.

The company said that users can continue using the existing balance on Paytm FASTag.

The Company also clarified whether the POS machine/ sound box will work

Paytm clarified that investments with Paytm money will not be affected.

The company also clarified that the Paytm NCMC card will continue to work.

The RBI order stated that any interest, cashback, or refunds may be credited back to Paytm customers at any time.

Paytm stated that its parent company One97 Communication Limited works with various banks.

After the central bank's order, Paytm's shares plunged the daily limit of 20% on Thursday.