India, April 30 -- The regulatory actions against Paytm Payments Bank have impacted its mobile wallet business operation, thus bringing it to a standstill.

In March, Paytm Payments Bank recorded 7.4 Mn fund transfer transactions in its prepaid payment instruments division, marking a substantial 64% decrease from the 20.7 Mn transactions reported in December 2023, as per The Reserve Bank of India's (RBI) data.

For use of the wallet for purchasing goods and services, transactions amounted to just over a quarter at 66 Mn, as opposed to 247 Mn during the same time frame.

Inc42 has reached out to Paytm on the same. The copy will be updated based on the response.

The fintech major's crisis started when the RBI barred Paytm Payments Bank fro...