Page 40 - Banking Finance March 2025

ARTICLE

Proper Management: To ensure the proper (Immediate Payment Service), or RTGS (Real-time Gross
management of any banking company. Settlement). There are many PSBs & Pvt. Bank are providing
same facilities with some added features. SBI, HDFC Bank,
So, RBI imposed restrictions on Paytm on using authority
under Section 35 A of BR act 1949. ICICI Bank, Axis Bank, Canara Bank, Union Bank etc are
offering wide range of services, including savings accounts,
Way forward for Digital Payment fixed deposits, and loans.

It is very true that Paytm has good market share in digital
There are two other payment banks named Airtel Payment
channel. However, on imposition of recent restriction by RBI,
Bank & Jio Payment bank are also providing services like
the market share is decreasing and Google and PhonePe are
encashing the opportunity. Now Paytm user can easily Paytm. Further Google Pay & Phonepe are providing services
withdraw their saving in Paytm Payment Bank, and they can like digital wallets and with these wallets our bank account
switch over to other service providers. The steps to can be linked too. Unified Payments Interface (UPI) Apps
withdraw the money from Paytm: BHIM is a government-backed UPI and it facilitates instant
1. Open the Paytm app on your phone. fund transfers between bank accounts. Further Amazon pay
also allow us to make payments, recharge, and shop online.
2. Log in with your phone number.
3. Select the banking and payment option. Thus, in today's scenario the wallet users as well as
4. Choose "to bank account". digital channel payment users are having bundle of
5. Select "your bank account" and enter the amount you opportunity to avail services of various service providers and
want to withdraw. without hindrance they can enjoy the benefits of digital
payments.
6. Authenticate the transaction using your PIN code.

The money can transfer to another bank account using Sources: The Economics Times, Money Control, RBI Master
options like UPI (Unified Payments Interface), IMPS Circular and Investopedia.

FORM IV (SEE RULE 8)
1. Place Kolkata
2. Periodicity of Publication Monthly
3. Printer’s Name Satyajug Employees Co-operative Industrial Society Ltd.
(Whether citizen of India?) Yes
(If foreigner, state the country of origin) No
Address 13, Prafulla Sarkar Street, Kolkata - 700 072
4. Publisher’s Name Sashi Prabha Agarwala
(Whether citizen of India?) Yes
(If foreigner, state the country of origin) No
5. Editor’s Name Dr. Rakesh Agarwal
(Whether citizen of India?) Yes
(If foreigner, state the country of origin) No
Address 25/1, Baranashi Ghosh Street, P.S. Girish Park,
Kolkata - 700 007
6. Name and address of individuals who own the Sashi Publications Pvt. Ltd.
newspaper and partners or shareholders holding Private Limited Company
more than one percent of the total capital 25/1, Baranashi Ghosh Street, Kolkata - 700 007
Sushil Kr. Agarwala - 25%, Sadhana Agarwal - 16.67%,
Rakesh Agarwal - 16.67%, Roli Agarwal - 16.67%,

36 | 2025 | MARCH | BANKING FINANCE