Paytm Payments Services receives an in-principle, preliminary nod from India’s Reserve Bank of India (RBI) that moves it closer to restarting prepaid wallet services. Multiple outlets report that this clearance relates to Paytm’s ability to offer prepaid payment instruments, including wallets, but that the company can only operate after final RBI authorization.
Outlets also place the approval in context of Paytm’s earlier setback. Business Line notes the RBI barred Paytm Payments Bank from accepting fresh deposits and wallet top-ups more than two years ago, which outlets frame as the reason the restart is significant. India Today describes the development as Paytm inching closer to bringing back prepaid wallet services, while The Hindu emphasizes the linkage between the preliminary nod and the eventual final authorization required.
Across coverage, the common thread is that Paytm’s wallet business is approaching restart through RBI steps, with the exact operational timing dependent on final approval.
