India’s central financial institution prolonged the deadline for among the enterprise restrictions it’s imposing on Paytm’s Funds Financial institution to March 15 from February 29, giving the Indian monetary providers agency an extra 15 days to adjust to the principles however squashing probabilities of any main concessions.

The Reserve Financial institution of India mentioned Friday Paytm Funds Financial institution, an affiliate agency of the Indian monetary providers agency that processes the group’s transactions, shall be barred from accepting buyer deposits, credit score transactions and prime ups in checking account, pay as you go devices, wallets, FASTags from March 15, 2024.

Many different funds financial institution’s providers shall be permitted till March 15 as a substitute of the sooner February 29 deadline, the central financial institution mentioned. The RBI additionally printed an FAQ (PDF), detailing how the embargo on Paytm’s Funds Financial institution will influence service provider and prospects.