Paytm Money: Are Your Investments Safe?

Paytm is in news for all the wrong reasons. Following the RBI's ban on Paytm Payments Bank, here is the clarification from One 97 Communications.

Paytm clarifies:

The ban on Paytm Payments Bank (PPBL) does not impact the operations of Paytm Money (PML).

You can continue investing, redeeming, and trading through PML, assures Paytm.

There is no impact on your investments with PML in Equity, Mutual Funds, or NPS.

PML is regulated by SEBI and fully compliant with all regulations and policies.

Your equity, bonds, and ETFs are all secured in your CDSL Demat Account, ensuring they are always safe, and transactions can only be done with your authorization.

Your Mutual Fund/SIP investments are with respective AMCs and are also safe; you can continue to invest/redeem as usual.

Funds transferred to PML’s trading account are upstreamed (transferred) to the Indian Clearing Corporation of BSE as per SEBI regulations, ensuring their safety.

Investors who have set PPBL as their default account will need to change it before February 29, 2024, by adding an alternate bank.

Your Paytm Gold Investments are completely safe with MMTC-PAMP; this is unrelated to the recent directives from RBI on Paytm Payments Bank.

You can continue using the existing balance on your Paytm FASTag and top-up the balance from your account with partner banks such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank, etc.

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