{"id":10302,"date":"2024-02-05T06:10:18","date_gmt":"2024-02-05T06:10:18","guid":{"rendered":"https:\/\/jammubulletin.com\/site\/?p=10302"},"modified":"2024-02-05T06:10:18","modified_gmt":"2024-02-05T06:10:18","slug":"cait-advises-traders-to-switch-from-paytm-to-other-payment-apps-in-light-of-rbi-action","status":"publish","type":"post","link":"https:\/\/jammubulletin.com\/site\/cait-advises-traders-to-switch-from-paytm-to-other-payment-apps-in-light-of-rbi-action\/","title":{"rendered":"CAIT advises traders to switch from Paytm to other payment apps in light of RBI action"},"content":{"rendered":"<p>NEW DELHI: <span id=\"output-sentence-box~0\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~0\"><span data-testid=\"output-sentence-0\"><span id=\"output-phrase~0~0\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Following\u00a0<\/span><\/span><span id=\"output-phrase~0~1\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\"><a href=\"https:\/\/jammubulletin.com\/site\/rbi-says-rs-2000-notes-totalling-rs-9760-cr-still-with-public\/\">RBI<\/a>\u00a0<\/span><\/span><span id=\"output-phrase~0~2\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">restrictions\u00a0<\/span><\/span><span id=\"output-phrase~0~3\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">on\u00a0<\/span><\/span><span id=\"output-phrase~0~4\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Paytm\u00a0<\/span><\/span><span id=\"output-phrase~0~5\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">wallet\u00a0<\/span><\/span><span id=\"output-phrase~0~6\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">and\u00a0<\/span><\/span><span id=\"output-phrase~0~7\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">bank\u00a0<\/span><span class=\"css-15iwe0d\">operations,\u00a0<\/span><\/span><span id=\"output-phrase~0~8\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">merchants&#8217;\u00a0<\/span><\/span><span id=\"output-phrase~0~9\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">association\u00a0<\/span><\/span><span id=\"output-phrase~0~10\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">CAIT\u00a0<\/span><\/span><span id=\"output-phrase~0~11\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">on\u00a0<\/span><\/span><span id=\"output-phrase~0~12\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Sunday\u00a0<\/span><\/span><span id=\"output-phrase~0~13\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">cautioned\u00a0<\/span><\/span><span id=\"output-phrase~0~14\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">traders\u00a0<\/span><\/span><span id=\"output-phrase~0~15\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">to\u00a0<\/span><span class=\"css-2yp7ui\">move\u00a0<\/span><\/span><span id=\"output-phrase~0~16\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">from\u00a0<\/span><\/span><span id=\"output-phrase~0~17\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">Paytm\u00a0<\/span><\/span><span id=\"output-phrase~0~18\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">to\u00a0<\/span><span class=\"css-1ber87j\">other\u00a0<\/span><\/span><span id=\"output-phrase~0~19\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">payment\u00a0<\/span><span class=\"css-1ber87j\">options\u00a0<\/span><\/span><span id=\"output-phrase~0~20\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">for\u00a0<\/span><\/span><span id=\"output-phrase~0~21\" class=\"css-1m8t0fv\"><span class=\"css-1eh0vfs\">business-related\u00a0<\/span><span class=\"css-0\">transactions.<\/span><\/span><\/span> <\/span><\/span><\/span><span id=\"output-sentence-box~1\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~1\"><span data-testid=\"output-sentence-1\"><span id=\"output-phrase~1~0\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">Because\u00a0<\/span><span class=\"css-15iwe0d\">of\u00a0<\/span><\/span><span id=\"output-phrase~1~1\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">the\u00a0<\/span><a href=\"https:\/\/jammubulletin.com\/site\/rbi-says-rs-2000-notes-totalling-rs-9760-cr-still-with-public\/\"><span class=\"css-1ber87j\">Reserve\u00a0<\/span><span class=\"css-1ber87j\">Bank\u00a0<\/span><\/a><\/span><a href=\"https:\/\/jammubulletin.com\/site\/rbi-says-rs-2000-notes-totalling-rs-9760-cr-still-with-public\/\"><span id=\"output-phrase~1~2\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">of\u00a0<\/span><\/span><\/a><span id=\"output-phrase~1~3\" class=\"css-1m8t0fv\"><span class=\"css-0\"><a href=\"https:\/\/jammubulletin.com\/site\/rbi-says-rs-2000-notes-totalling-rs-9760-cr-still-with-public\/\">India<\/a>&#8216;s\u00a0<\/span><\/span><span id=\"output-phrase~1~4\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">recent\u00a0<\/span><\/span><span id=\"output-phrase~1~5\" class=\"css-1m8t0fv\"><span class=\"css-0\">restrictions,\u00a0<\/span><\/span><span id=\"output-phrase~1~6\" class=\"css-1m8t0fv\"><span class=\"css-0\">CAIT\u00a0<\/span><\/span><span id=\"output-phrase~1~7\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">advises\u00a0<\/span><\/span><span id=\"output-phrase~1~8\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">customers\u00a0<\/span><\/span><span id=\"output-phrase~1~9\" class=\"css-1m8t0fv\"><span class=\"css-0\">to\u00a0<\/span><span class=\"css-0\">take\u00a0<\/span><\/span><span id=\"output-phrase~1~10\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">preventative\u00a0<\/span><span class=\"css-0\">action\u00a0<\/span><\/span><span id=\"output-phrase~1~11\" class=\"css-1m8t0fv\"><span class=\"css-0\">to\u00a0<\/span><span class=\"css-rh820s\">safeguard\u00a0<\/span><\/span><span id=\"output-phrase~1~12\" class=\"css-1m8t0fv\"><span class=\"css-0\">their\u00a0<\/span><\/span><span id=\"output-phrase~1~13\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">money\u00a0<\/span><span class=\"css-0\">and\u00a0<\/span><\/span><span id=\"output-phrase~1~14\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">guarantee\u00a0<\/span><\/span><span id=\"output-phrase~1~15\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">smooth\u00a0<\/span><\/span><span id=\"output-phrase~1~16\" class=\"css-1m8t0fv\"><span class=\"css-0\">financial\u00a0<\/span><span class=\"css-0\">transactions.<\/span><\/span><\/span> <\/span><\/span><\/span><span id=\"output-sentence-box~2\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~2\"><span data-testid=\"output-sentence-2\"><span id=\"output-phrase~2~0\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">The\u00a0<\/span><\/span><span id=\"output-phrase~2~1\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">RBI&#8217;s\u00a0<\/span><\/span><span id=\"output-phrase~2~2\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">restrictions\u00a0<\/span><\/span><span id=\"output-phrase~2~3\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">on\u00a0<\/span><\/span><span id=\"output-phrase~2~4\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Paytm\u00a0<\/span><\/span><span id=\"output-phrase~2~5\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">might\u00a0<\/span><span class=\"css-2yp7ui\">cause\u00a0<\/span><\/span><span id=\"output-phrase~2~6\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">financial\u00a0<\/span><\/span><span id=\"output-phrase~2~7\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">upheaval\u00a0<\/span><\/span><span id=\"output-phrase~2~8\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">for\u00a0<\/span><\/span><span id=\"output-phrase~2~9\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">a\u00a0<\/span><span class=\"css-1ber87j\">large\u00a0<\/span><span class=\"css-1ber87j\">number\u00a0<\/span><span class=\"css-1ber87j\">of\u00a0<\/span><\/span><span id=\"output-phrase~2~10\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">small\u00a0<\/span><span class=\"css-1ber87j\">traders,\u00a0<\/span><\/span><span id=\"output-phrase~2~11\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">vendors,\u00a0<\/span><\/span><span id=\"output-phrase~2~12\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">hawkers,\u00a0<\/span><\/span><span id=\"output-phrase~2~13\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">and\u00a0<\/span><span class=\"css-15iwe0d\">women\u00a0<\/span><\/span><span id=\"output-phrase~2~14\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">because\u00a0<\/span><\/span><span id=\"output-phrase~2~15\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">they\u00a0<\/span><span class=\"css-2yp7ui\">use\u00a0<\/span><\/span><span id=\"output-phrase~2~16\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">the\u00a0<\/span><span class=\"css-2yp7ui\">app\u00a0<\/span><\/span><span id=\"output-phrase~2~17\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">to\u00a0<\/span><span class=\"css-2yp7ui\">make\u00a0<\/span><\/span><span id=\"output-phrase~2~18\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">payments,\u00a0<\/span><\/span><span id=\"output-phrase~2~19\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">according\u00a0<\/span><\/span><span id=\"output-phrase~2~20\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">to\u00a0<\/span><span class=\"css-15iwe0d\">the\u00a0<\/span><\/span><span id=\"output-phrase~2~21\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Confederation\u00a0<\/span><\/span><span id=\"output-phrase~2~22\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">of\u00a0<\/span><\/span><span id=\"output-phrase~2~23\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">All\u00a0<\/span><span class=\"css-15iwe0d\">India\u00a0<\/span><\/span><span id=\"output-phrase~2~24\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Traders\u00a0<\/span><\/span><span id=\"output-phrase~2~25\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">(CAIT).<\/span><\/span><\/span><\/span><\/span><\/span><span id=\"output-sentence-box~0\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~0\"><span data-testid=\"output-sentence-0\"><span id=\"output-phrase~0~0\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">The\u00a0<\/span><span class=\"css-0\">Reserve\u00a0<\/span><span class=\"css-0\">Bank\u00a0<\/span><\/span><span id=\"output-phrase~0~1\" class=\"css-1m8t0fv\"><span class=\"css-0\">of\u00a0<\/span><span class=\"css-0\">India\u00a0<\/span><\/span><span id=\"output-phrase~0~2\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">has\u00a0<\/span><span class=\"css-rh820s\">been\u00a0<\/span><\/span><span id=\"output-phrase~0~3\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">clamping\u00a0<\/span><\/span><span id=\"output-phrase~0~4\" class=\"css-1m8t0fv\"><span class=\"css-0\">down\u00a0<\/span><span class=\"css-0\">on\u00a0<\/span><\/span><span id=\"output-phrase~0~5\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">internet\u00a0<\/span><\/span><span id=\"output-phrase~0~6\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">poster\u00a0<\/span><\/span><span id=\"output-phrase~0~7\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">boy\u00a0<\/span><\/span><span id=\"output-phrase~0~8\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Vijay\u00a0<\/span><\/span><span id=\"output-phrase~0~9\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Shekhar\u00a0<\/span><\/span><span id=\"output-phrase~0~10\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Sharma&#8217;s\u00a0<\/span><\/span><span id=\"output-phrase~0~11\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">enterprises\u00a0<\/span><\/span><span id=\"output-phrase~0~12\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">due\u00a0<\/span><span class=\"css-15iwe0d\">to\u00a0<\/span><\/span><span id=\"output-phrase~0~13\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">worries\u00a0<\/span><\/span><span id=\"output-phrase~0~14\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">about\u00a0<\/span><\/span><span id=\"output-phrase~0~15\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">money\u00a0<\/span><span class=\"css-15iwe0d\">laundering\u00a0<\/span><\/span><span id=\"output-phrase~0~16\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">and\u00a0<\/span><\/span><span id=\"output-phrase~0~17\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">dubious\u00a0<\/span><\/span><span id=\"output-phrase~0~18\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">transactions\u00a0<\/span><\/span><span id=\"output-phrase~0~19\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">involving\u00a0<\/span><\/span><span id=\"output-phrase~0~20\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">hundreds\u00a0<\/span><span class=\"css-1ber87j\">of\u00a0<\/span><\/span><span id=\"output-phrase~0~21\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">crores\u00a0<\/span><\/span><span id=\"output-phrase~0~22\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">of\u00a0<\/span><\/span><span id=\"output-phrase~0~23\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">rupees\u00a0<\/span><\/span><span id=\"output-phrase~0~24\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">between\u00a0<\/span><\/span><span id=\"output-phrase~0~25\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">the\u00a0<\/span><span class=\"css-2yp7ui\">well-known\u00a0<\/span><\/span><span id=\"output-phrase~0~26\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">wallet\u00a0<\/span><\/span><span id=\"output-phrase~0~27\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Paytm\u00a0<\/span><\/span><span id=\"output-phrase~0~28\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">and\u00a0<\/span><\/span><span id=\"output-phrase~0~29\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">its\u00a0<\/span><span class=\"css-0\">less\u00a0<\/span><\/span><span id=\"output-phrase~0~30\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">well-known\u00a0<\/span><\/span><span id=\"output-phrase~0~31\" class=\"css-1m8t0fv\"><span class=\"css-0\">banking\u00a0<\/span><\/span><span id=\"output-phrase~0~32\" class=\"css-1m8t0fv\"><span class=\"css-0\">arm,\u00a0<\/span><\/span><span id=\"output-phrase~0~33\" class=\"css-1m8t0fv\"><span class=\"css-0\">according\u00a0<\/span><span class=\"css-0\">to\u00a0<\/span><\/span><span id=\"output-phrase~0~34\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">insiders.<\/span><\/span><\/span> <\/span><\/span><\/span><span id=\"output-sentence-box~1\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~1\"><span data-testid=\"output-sentence-1\"><span id=\"output-phrase~1~0\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">Paytm\u00a0<\/span><a href=\"https:\/\/jammubulletin.com\/site\/number-of-gst-return-filers-up-65-pc-to-1-13-cr-in-5-years-90-filingtax-payment-form-in-time\/\"><span class=\"css-1ber87j\">Payments\u00a0<\/span><\/a><span class=\"css-1ber87j\">Bank\u00a0<\/span><\/span><span id=\"output-phrase~1~1\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">Ltd\u00a0<\/span><\/span><span id=\"output-phrase~1~2\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">(PPBL)\u00a0<\/span><\/span><span id=\"output-phrase~1~3\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">has\u00a0<\/span><span class=\"css-2yp7ui\">been\u00a0<\/span><\/span><span id=\"output-phrase~1~4\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">directed\u00a0<\/span><\/span><span id=\"output-phrase~1~5\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">by\u00a0<\/span><\/span><span id=\"output-phrase~1~6\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">the\u00a0<\/span><span class=\"css-15iwe0d\">central\u00a0<\/span><span class=\"css-15iwe0d\">bank\u00a0<\/span><\/span><span id=\"output-phrase~1~7\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">to\u00a0<\/span><span class=\"css-rh820s\">cease\u00a0<\/span><\/span><span id=\"output-phrase~1~8\" class=\"css-1m8t0fv\"><span class=\"css-0\">the\u00a0<\/span><span class=\"css-rh820s\">majority\u00a0<\/span><\/span><span id=\"output-phrase~1~9\" class=\"css-1m8t0fv\"><span class=\"css-0\">of\u00a0<\/span><\/span><span id=\"output-phrase~1~10\" class=\"css-1m8t0fv\"><span class=\"css-0\">its\u00a0<\/span><span class=\"css-rh820s\">operations,\u00a0<\/span><\/span><span id=\"output-phrase~1~11\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">which\u00a0<\/span><span class=\"css-rh820s\">includes\u00a0<\/span><\/span><span id=\"output-phrase~1~12\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">accepting\u00a0<\/span><\/span><span id=\"output-phrase~1~13\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">new\u00a0<\/span><\/span><span id=\"output-phrase~1~14\" class=\"css-1m8t0fv\"><span class=\"css-0\">deposits,\u00a0<\/span><\/span><span id=\"output-phrase~1~15\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">executing\u00a0<\/span><\/span><span id=\"output-phrase~1~16\" class=\"css-1m8t0fv\"><span class=\"css-0\">credit\u00a0<\/span><span class=\"css-0\">transactions,\u00a0<\/span><\/span><span id=\"output-phrase~1~17\" class=\"css-1m8t0fv\"><span class=\"css-0\">and\u00a0<\/span><\/span><span id=\"output-phrase~1~18\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">topping\u00a0<\/span><\/span><span id=\"output-phrase~1~19\" class=\"css-1m8t0fv\"><span class=\"css-0\">up\u00a0<\/span><\/span><span id=\"output-phrase~1~20\" class=\"css-1m8t0fv\"><span class=\"css-0\">any\u00a0<\/span><span class=\"css-rh820s\">client\u00a0<\/span><\/span><span id=\"output-phrase~1~21\" class=\"css-1m8t0fv\"><span class=\"css-0\">accounts,\u00a0<\/span><\/span><span id=\"output-phrase~1~22\" class=\"css-1m8t0fv\"><span class=\"css-0\">prepaid\u00a0<\/span><\/span><span id=\"output-phrase~1~23\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">devices,\u00a0<\/span><\/span><span id=\"output-phrase~1~24\" class=\"css-1m8t0fv\"><span class=\"css-0\">wallets,\u00a0<\/span><\/span><span id=\"output-phrase~1~25\" class=\"css-1m8t0fv\"><span class=\"css-0\">and\u00a0<\/span><\/span><span id=\"output-phrase~1~26\" class=\"css-1m8t0fv\"><span class=\"css-0\">cards\u00a0<\/span><\/span><span id=\"output-phrase~1~27\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">used\u00a0<\/span><span class=\"css-0\">to\u00a0<\/span><span class=\"css-0\">pay\u00a0<\/span><\/span><span id=\"output-phrase~1~28\" class=\"css-1m8t0fv\"><span class=\"css-0\">for\u00a0<\/span><\/span><span id=\"output-phrase~1~29\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">tolls\u00a0<\/span><\/span><span id=\"output-phrase~1~30\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">on\u00a0<\/span><\/span><span id=\"output-phrase~1~31\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">the\u00a0<\/span><span class=\"css-15iwe0d\">road\u00a0<\/span><\/span><span id=\"output-phrase~1~32\" class=\"css-1m8t0fv\"><span class=\"css-0\">after\u00a0<\/span><\/span><span id=\"output-phrase~1~33\" class=\"css-1m8t0fv\"><span class=\"css-0\">February\u00a0<\/span><span class=\"css-0\">29.<\/span><\/span><\/span> <\/span><\/span><\/span><span id=\"output-sentence-box~2\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~2\"><span data-testid=\"output-sentence-2\"><span id=\"output-phrase~2~0\" class=\"css-1m8t0fv\"><span class=\"css-0\">This\u00a0<\/span><span class=\"css-rh820s\">implies\u00a0<\/span><\/span><span id=\"output-phrase~2~1\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">that\u00a0<\/span><\/span><span id=\"output-phrase~2~2\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">until\u00a0<\/span><\/span><span id=\"output-phrase~2~3\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">February\u00a0<\/span><\/span><span id=\"output-phrase~2~4\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">29th,\u00a0<\/span><\/span><span id=\"output-phrase~2~5\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">clients\u00a0<\/span><\/span><span id=\"output-phrase~2~6\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">can\u00a0<\/span><span class=\"css-1ber87j\">access\u00a0<\/span><\/span><span id=\"output-phrase~2~7\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">their\u00a0<\/span><span class=\"css-1ber87j\">existing\u00a0<\/span><\/span><span id=\"output-phrase~2~8\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">deposits\u00a0<\/span><\/span><span id=\"output-phrase~2~9\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">and\u00a0<\/span><span class=\"css-2yp7ui\">use\u00a0<\/span><\/span><span id=\"output-phrase~2~10\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">funds\u00a0<\/span><\/span><span id=\"output-phrase~2~11\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">from\u00a0<\/span><\/span><span id=\"output-phrase~2~12\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">their\u00a0<\/span><span class=\"css-15iwe0d\">wallets\u00a0<\/span><\/span><span id=\"output-phrase~2~13\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">to\u00a0<\/span><span class=\"css-15iwe0d\">pay\u00a0<\/span><\/span><span id=\"output-phrase~2~14\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">for\u00a0<\/span><\/span><span id=\"output-phrase~2~15\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">services.<\/span><\/span><\/span> <\/span><\/span><\/span><span id=\"output-sentence-box~0\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~0\"><span data-testid=\"output-sentence-0\"><span id=\"output-phrase~0~0\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">Additionally,\u00a0<\/span><\/span><span id=\"output-phrase~0~1\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">if\u00a0<\/span><\/span><span id=\"output-phrase~0~2\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">the\u00a0<\/span><span class=\"css-0\">RBI\u00a0<\/span><\/span><span id=\"output-phrase~0~3\" class=\"css-1m8t0fv\"><span class=\"css-0\">does\u00a0<\/span><span class=\"css-0\">not\u00a0<\/span><\/span><span id=\"output-phrase~0~4\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">budge,\u00a0<\/span><\/span><span id=\"output-phrase~0~5\" class=\"css-1m8t0fv\"><span class=\"css-0\">Paytm\u00a0<\/span><\/span><span id=\"output-phrase~0~6\" class=\"css-1m8t0fv\"><span class=\"css-0\">wallet\u00a0<\/span><\/span><span id=\"output-phrase~0~7\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">top-ups\u00a0<\/span><\/span><span id=\"output-phrase~0~8\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">would\u00a0<\/span><span class=\"css-2yp7ui\">end\u00a0<\/span><\/span><span id=\"output-phrase~0~9\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">and\u00a0<\/span><\/span><span id=\"output-phrase~0~10\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">transactions\u00a0<\/span><\/span><span id=\"output-phrase~0~11\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">made\u00a0<\/span><\/span><span id=\"output-phrase~0~12\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">through\u00a0<\/span><\/span><span id=\"output-phrase~0~13\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">it\u00a0<\/span><\/span><span id=\"output-phrase~0~14\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">will\u00a0<\/span><span class=\"css-15iwe0d\">be\u00a0<\/span><\/span><span id=\"output-phrase~0~15\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">unable\u00a0<\/span><\/span><span id=\"output-phrase~0~16\" class=\"css-1m8t0fv\"><span class=\"css-0\">to\u00a0<\/span><span class=\"css-rh820s\">complete.<\/span><\/span><\/span> <\/span><\/span><\/span><span id=\"output-sentence-box~1\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~1\"><span data-testid=\"output-sentence-1\"><span id=\"output-phrase~1~0\" class=\"css-1m8t0fv\"><span class=\"css-0\">Concerns\u00a0<\/span><\/span><span id=\"output-phrase~1~1\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">over\u00a0<\/span><\/span><span id=\"output-phrase~1~2\" class=\"css-1m8t0fv\"><span class=\"css-0\">the\u00a0<\/span><span class=\"css-0\">security\u00a0<\/span><\/span><span id=\"output-phrase~1~3\" class=\"css-1m8t0fv\"><span class=\"css-0\">and\u00a0<\/span><\/span><span id=\"output-phrase~1~4\" class=\"css-1m8t0fv\"><span class=\"css-0\">continuity\u00a0<\/span><\/span><span id=\"output-phrase~1~5\" class=\"css-1m8t0fv\"><span class=\"css-0\">of\u00a0<\/span><\/span><span id=\"output-phrase~1~6\" class=\"css-1m8t0fv\"><span class=\"css-0\">the\u00a0<\/span><span class=\"css-0\">financial\u00a0<\/span><span class=\"css-0\">services\u00a0<\/span><\/span><span id=\"output-phrase~1~7\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">offered\u00a0<\/span><span class=\"css-0\">by\u00a0<\/span><\/span><span id=\"output-phrase~1~8\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">the\u00a0<\/span><span class=\"css-15iwe0d\">platform\u00a0<\/span><\/span><span id=\"output-phrase~1~9\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">have\u00a0<\/span><span class=\"css-2yp7ui\">been\u00a0<\/span><\/span><span id=\"output-phrase~1~10\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">raised\u00a0<\/span><\/span><span id=\"output-phrase~1~11\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">by\u00a0<\/span><\/span><span id=\"output-phrase~1~12\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">the\u00a0<\/span><span class=\"css-2yp7ui\">new\u00a0<\/span><\/span><span id=\"output-phrase~1~13\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">limits\u00a0<\/span><\/span><span id=\"output-phrase~1~14\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">placed\u00a0<\/span><span class=\"css-15iwe0d\">on\u00a0<\/span><\/span><span id=\"output-phrase~1~15\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">Paytm\u00a0<\/span><\/span><span id=\"output-phrase~1~16\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">by\u00a0<\/span><\/span><span id=\"output-phrase~1~17\" class=\"css-1m8t0fv\"><span class=\"css-15iwe0d\">the\u00a0<\/span><span class=\"css-15iwe0d\">RBI,\u00a0<\/span><\/span><span id=\"output-phrase~1~18\" class=\"css-1m8t0fv\"><span class=\"css-2yp7ui\">according\u00a0<\/span><span class=\"css-2yp7ui\">to\u00a0<\/span><\/span><span id=\"output-phrase~1~19\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">CAIT\u00a0<\/span><\/span><span id=\"output-phrase~1~20\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">Secretary\u00a0<\/span><span class=\"css-1ber87j\">General\u00a0<\/span><\/span><span id=\"output-phrase~1~21\" class=\"css-1m8t0fv\"><span class=\"css-1ber87j\">Praveen\u00a0<\/span><\/span><span id=\"output-phrase~1~22\" class=\"css-1m8t0fv\"><span class=\"css-0\">Khandelwal.<\/span><\/span><\/span> <\/span><\/span><\/span><span id=\"output-sentence-box~2\" class=\"output-sentence\"><span class=\"css-x5hiaf\"><span id=\"output-sentence~2\"><span data-testid=\"output-sentence-2\"><span id=\"output-phrase~2~0\" class=\"css-1m8t0fv\"><span class=\"css-0\">He\u00a0<\/span><\/span><span id=\"output-phrase~2~1\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">highlighted\u00a0<\/span><\/span><span id=\"output-phrase~2~2\" class=\"css-1m8t0fv\"><span class=\"css-0\">the\u00a0<\/span><span class=\"css-rh820s\">importance\u00a0<\/span><\/span><span id=\"output-phrase~2~3\" class=\"css-1m8t0fv\"><span class=\"css-0\">of\u00a0<\/span><\/span><span id=\"output-phrase~2~4\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">acting\u00a0<\/span><\/span><span id=\"output-phrase~2~5\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">quickly\u00a0<\/span><span class=\"css-0\">and\u00a0<\/span><\/span><span id=\"output-phrase~2~6\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">making\u00a0<\/span><\/span><span id=\"output-phrase~2~7\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">well-informed\u00a0<\/span><\/span><span id=\"output-phrase~2~8\" class=\"css-1m8t0fv\"><span class=\"css-rh820s\">judgements\u00a0<\/span><\/span><span id=\"output-phrase~2~9\" class=\"css-1m8t0fv\"><span class=\"css-0\">in\u00a0<\/span><span class=\"css-rh820s\">order\u00a0<\/span><\/span><span id=\"output-phrase~2~10\" class=\"css-1m8t0fv\"><span class=\"css-0\">to\u00a0<\/span><span class=\"css-rh820s\">minimise\u00a0<\/span><\/span><span id=\"output-phrase~2~11\" class=\"css-1m8t0fv\"><span class=\"css-0\">any\u00a0<\/span><span class=\"css-0\">potential\u00a0<\/span><span class=\"css-rh820s\">negative\u00a0<\/span><span class=\"css-1eh0vfs\">effects\u00a0<\/span><\/span><span id=\"output-phrase~2~12\" class=\"css-1m8t0fv\"><span class=\"css-1eh0vfs\">on\u00a0<\/span><\/span><span id=\"output-phrase~2~13\" class=\"css-1m8t0fv\"><span class=\"css-1eh0vfs\">their\u00a0<\/span><span class=\"css-1eh0vfs\">financial\u00a0<\/span><span class=\"css-1eh0vfs\">operations.&#8217;<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_10303\" aria-describedby=\"caption-attachment-10303\" style=\"width: 300px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-10303\" src=\"https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2024\/02\/Screenshot-2024-02-05-at-11.38.32-AM-300x174.png\" alt=\"CAIT advises traders to switch from Paytm to other payment apps in light of RBI action\" width=\"300\" height=\"174\" \/><figcaption id=\"caption-attachment-10303\" class=\"wp-caption-text\">CAIT advises traders to switch from Paytm to other payment apps in light of RBI action<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Following\u00a0RBI\u00a0restrictions\u00a0on\u00a0Paytm\u00a0wallet\u00a0and\u00a0bank\u00a0operations,\u00a0merchants&#8217;\u00a0association\u00a0CAIT\u00a0on\u00a0Sunday\u00a0cautioned\u00a0traders\u00a0to\u00a0move\u00a0from\u00a0Paytm\u00a0to\u00a0other\u00a0payment\u00a0options\u00a0for\u00a0business-related\u00a0transactions. Because\u00a0of\u00a0the\u00a0Reserve\u00a0Bank\u00a0of\u00a0India&#8216;s\u00a0recent\u00a0restrictions,\u00a0CAIT\u00a0advises\u00a0customers\u00a0to\u00a0take\u00a0preventative\u00a0action\u00a0to\u00a0safeguard\u00a0their\u00a0money\u00a0and\u00a0guarantee\u00a0smooth\u00a0financial\u00a0transactions. The\u00a0RBI&#8217;s\u00a0restrictions\u00a0on\u00a0Paytm\u00a0might\u00a0cause\u00a0financial\u00a0upheaval\u00a0for\u00a0a\u00a0large\u00a0number\u00a0of\u00a0small\u00a0traders,\u00a0vendors,\u00a0hawkers,\u00a0and\u00a0women\u00a0because\u00a0they\u00a0use\u00a0the\u00a0app\u00a0to\u00a0make\u00a0payments,\u00a0according\u00a0to\u00a0the\u00a0Confederation\u00a0of\u00a0All\u00a0India\u00a0Traders\u00a0(CAIT).The\u00a0Reserve\u00a0Bank\u00a0of\u00a0India\u00a0has\u00a0been\u00a0clamping\u00a0down\u00a0on\u00a0internet\u00a0poster\u00a0boy\u00a0Vijay\u00a0Shekhar\u00a0Sharma&#8217;s\u00a0enterprises\u00a0due\u00a0to\u00a0worries\u00a0about\u00a0money\u00a0laundering\u00a0and\u00a0dubious\u00a0transactions\u00a0involving\u00a0hundreds\u00a0of\u00a0crores\u00a0of\u00a0rupees\u00a0between\u00a0the\u00a0well-known\u00a0wallet\u00a0Paytm\u00a0and\u00a0its\u00a0less\u00a0well-known\u00a0banking\u00a0arm,\u00a0according\u00a0to\u00a0insiders. Paytm\u00a0Payments\u00a0Bank\u00a0Ltd\u00a0(PPBL)\u00a0has\u00a0been\u00a0directed\u00a0by\u00a0the\u00a0central\u00a0bank\u00a0to\u00a0cease\u00a0the\u00a0majority\u00a0of\u00a0its\u00a0operations,\u00a0which\u00a0includes\u00a0accepting\u00a0new\u00a0deposits,\u00a0executing\u00a0credit\u00a0transactions,\u00a0and\u00a0topping\u00a0up\u00a0any\u00a0client\u00a0accounts,\u00a0prepaid\u00a0devices,\u00a0wallets,\u00a0and\u00a0cards\u00a0used\u00a0to\u00a0pay\u00a0for\u00a0tolls\u00a0on\u00a0the\u00a0road\u00a0after\u00a0February\u00a029. This\u00a0implies\u00a0that\u00a0until\u00a0February\u00a029th,\u00a0clients\u00a0can\u00a0access\u00a0their\u00a0existing\u00a0deposits\u00a0and\u00a0use\u00a0funds\u00a0from\u00a0their\u00a0wallets\u00a0to\u00a0pay\u00a0for\u00a0services. Additionally,\u00a0if\u00a0the\u00a0RBI\u00a0does\u00a0not\u00a0budge,\u00a0Paytm\u00a0wallet\u00a0top-ups\u00a0would\u00a0end\u00a0and\u00a0transactions\u00a0made\u00a0through\u00a0it\u00a0will\u00a0be\u00a0unable\u00a0to\u00a0complete. Concerns\u00a0over\u00a0the\u00a0security\u00a0and\u00a0continuity\u00a0of\u00a0the\u00a0financial\u00a0services\u00a0offered\u00a0by\u00a0the\u00a0platform\u00a0have\u00a0been\u00a0raised\u00a0by\u00a0the\u00a0new\u00a0limits\u00a0placed\u00a0on\u00a0Paytm\u00a0by\u00a0the\u00a0RBI,\u00a0according\u00a0to\u00a0CAIT\u00a0Secretary\u00a0General\u00a0Praveen\u00a0Khandelwal. He\u00a0highlighted\u00a0the\u00a0importance\u00a0of\u00a0acting\u00a0quickly\u00a0and\u00a0making\u00a0well-informed\u00a0judgements\u00a0in\u00a0order\u00a0to\u00a0minimise\u00a0any\u00a0potential\u00a0negative\u00a0effects\u00a0on\u00a0their\u00a0financial\u00a0operations.&#8217; &nbsp; &nbsp;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13,6,67,89],"tags":[],"class_list":["post-10302","post","type-post","status-publish","format-standard","hentry","category-breaking-news","category-business","category-header","category-national"],"gutentor_comment":0,"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CAIT 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