FALAKNAAZ SYED
MUMBAI, FEB. 23
The Reserve India (RBI) on Friday advised the National Payments Corporation of India (NPCI) to examine One97 Communication’s request to become a third party application provider (TPAP) for tinued UPI operations of the Paytm application.If NPCI grants the TPAI licence - to Paytm, UPI accounts with ‘@paytm handles will be needed to migrated from Paytm Payments Bank (PPBL) to con set of newly identified banks to avoid any disrup 10115 The RBI said that NPCI may vm ilitate certifica tion of 4-5 Udlll\\ as rayment dervice Froviaer PSP) banks with capabili ies to process high vol ume UPI transactions According to reports ifter shifting its nodal iccounts to Axis Bank One97 Communications that owns the brand Paytm, and private sector lenders HDFC Bank and Yes Bank have jointly applied to be TPAP with the NPCI for running the UPI As the Paytm Payments Bank cannot accept fu: ther credits into its cus tomer accounts and wal lets after March 15, cer
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