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Paytm
Paytm is an Indian payments brand. On the Reserve Bank of India's direction, Paytm Payments Bank could not accept further credits into its customer accounts and wallets after 15 March 2024, while the Reserve Bank separately arranged for UPI payments on the ‘@paytm’ handle to keep working. The wallet side of Paytm and the UPI side therefore stand in very different places, which is why this method is recorded as limited rather than active.
About Paytm
Who Operates Paytm
Paytm is run by One97 Communications Limited, whose terms describe the Paytm Platform as covering recharge and bill payment, digital products, a semi-closed wallet service and a marketplace service. The Reserve Bank of India's register of authorised payment system operators records that One97 Communications Ltd. held the authorisation for a mobile prepaid payment instrument known as the Paytm wallet, and that One97 transferred that business to Paytm Payments Bank Limited with the Reserve Bank's permission. The register carries that entry in its section for entities whose certificate of authorisation to operate a payment system has been cancelled.
What the Reserve Bank of India Directed in 2024
On 31 January 2024 the Reserve Bank of India, acting under section 35A of the Banking Regulation Act, 1949, directed Paytm Payments Bank Ltd that no further deposits, credit transactions or top ups were to be allowed in any customer accounts, prepaid instruments or wallets after 29 February 2024, while withdrawal or utilisation of existing balances was to continue without restriction. On 16 February 2024 the Reserve Bank moved that cut-off to 15 March 2024 in partial modification of the earlier directions.
A further press release on 23 February 2024 dealt with what happened to payments made from the Paytm app. Because Paytm Payments Bank could not accept credits into its accounts and wallets after 15 March 2024, the Reserve Bank advised the National Payments Corporation of India to examine One97 Communications' request to become a Third-Party Application Provider for the UPI channel so that UPI operation of the Paytm app could continue, and asked that ‘@paytm’ handles be migrated from Paytm Payments Bank to a set of newly identified banks.
Licence Cancellation and Winding Up
The Reserve Bank cancelled the banking licence of Paytm Payments Bank Limited by order dated 24 April 2026, effective from the close of business that day. The High Court of Delhi then ordered the bank wound up, by an order dated 8 July 2026 read with an order dated 22 July 2026, and appointed an Official Liquidator. Paytm Payments Bank Limited was subsequently excluded from the Second Schedule to the Reserve Bank of India Act, 1934.
Gambling Transactions in Paytm's Own Terms
Paytm's general terms do not single out gambling. Their prohibited-conduct list bars a user from using the platform to conduct any activity or solicit the performance of any illegal activity, and names no betting or casino category. One Paytm product does name them: the terms governing a RuPay credit card linked to UPI state that UPI transactions through credit cards are not applicable on a list of merchant categories, and that list includes government-licensed online casinos and betting. That restriction is written of credit cards on UPI and is not stated of Paytm's other funding routes, so it is reported as the narrow rule it is rather than as a general Paytm gambling ban.
What a Reader Should Take From This
The Paytm brand is not retired and the Paytm app's UPI operation was arranged to continue. What has changed is the wallet: the prepaid-instrument authorisation for the Paytm wallet sat with Paytm Payments Bank Limited, and that bank is in liquidation. Whether a Paytm wallet balance can still be loaded by any route is not stated on any primary page that could be read.
Fees and Timings
No deposit fee and no settlement time are given here. The fee tables Paytm publishes for adding money to its wallet name Paytm Payments Bank Ltd among the entities providing the service, which makes them unreliable as a current figure, and no primary page states a casino deposit time.