RBI asks NPCI to help continue UPI operations of Paytm App

The Reserve Bank of India (RBI) on Friday asked National Payments Corporation of India (NPCI) to examine use of UPI channel to allow Paytm App to continue operations and facilitate migration of @paytm handles to 4-5 banks.

RBI asked NPCI to examine the possibility of it becoming a third party application provider for continued UPI operations of the Paytm app.

The central bank has barred Paytm Payments Bank from accepting further credits into its customer accounts and



wallets after March 15, 2024.

With an aim to ensure seamless digital payments by UPI customers using '@paytm' handle operated by the Paytm Payments Bank, RBI said it has asked the National Payments Corporation of India (NPCI) to examine the request to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app.

The request has been made by One97 Communication Ltd (OCL), which owns the Paytm brand, RBI said in a statement.