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Why #paytmChorHai is trending on Twitter?

By Shreya
|

New Delhi, Sep 13: If you have been on Twitter in the last 24 hours, you might have seen the hashtag #paytmChorHai trending. If you are wondering what this is about, let us tell you.

Well, Paytm is on trends today after some twitter users claimed that Patym has shut down one of its postpaid services.

Paytm

Paytm's post-paid service allows users certain credit limit based on their transactions and allows them to pay back the amount without interest within a period of 30 plus 7 days.

Here are a few tweets where netizens are flagging their issues with Paytm.

In May, the Delhi High Court on Monday notices to the Reserve Bank of India (RBI) and PayTM, seeking their response to a Public Interest Litigation (PIL) which claims that the digital payment company is violating the banking rules by operating a post-paid wallet.

The petitioner had alleged, is in violation of Section 1.6 of RBI's Operating Guidelines for Payments Bank which puts restrictions on loans and advances to customers.

The petitioner also claims that PayTM has not informed RBI about the operation of a post-paid wallet service and thus is also in violation of its rules which mandate informing the regulator about operations of payment banks.

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