According to Moneycontrol, Paytm Payments Bank Ltd (PPBL) has reassured that the withdrawal of depositors’ money is being managed smoothly and in compliance with regulatory norms.
In response to a query from Moneycontrol, a spokesperson for PPBL stated on February 15 that the withdrawal and utilization of customer deposits are being conducted in accordance with the necessary regulations.
Moneycontrol sought clarification from PPBL regarding the status of depositors’ money and whether the bank intends to invest the funds in government securities.
PPBL is mandated to invest the daily deposit balances in government securities and commercial bank balances, indicating that the deposited funds are secure. This statement aims to provide confidence to depositors regarding the safety and management of their money within the bank.
