Paytm director Manju Agarwal resigned from the board of Paytm Payments Bank on February 1. According to the company, the resignation was due to personal commitments.
Meanwhile, the financial technology company announced that it would form an advisory committee to deal with compliance and regulatory issues after the Reserve Bank of India had ordered the Paytm Payments Bank to wind up most of its operations.
As far as customers are concerned, they can withdraw from their accounts but services like fund transfers and UPI facilities will no longer be available.
Users can however use the PayTM app and the UPI channel as the app is owned by the parent company and not directly associated with Paytm Payments Bank.