Announcements

As per a recent update from the Reserve Bank of India (RBI) regarding customers with a Paytm Payments Bank (PPB) account, here are a few important things you must keep in mind which will come into effect from 10 March 2024:

- Upstox will no longer accept payments or mandate requests through PPB
- If PPB is your Primary bank account on Upstox, you will no longer be able to use it to add or withdraw funds
- If you have a Secondary bank account other than PPB, we will mark your Secondary account as your Primary account
- Mutual Fund transactions after 10 March 2024 will no longer be processed through your PPB account
- You will not be able to add PPB as a new bank account on Upstox
- Existing SIPs till 10 March will remain unimpacted

What You Can Do:
1) If PPB is your current Primary bank account on Upstox:
- Add a new bank account by following these steps:  How do I add a new bank in my Upstox account?
- Make the newly added bank account as your Primary bank account by following these steps: How do I change my Primary bank account linked to my Upstox account?

2) If your Mutual Fund SIPs are via PPB and it’s the only Primary bank account:
- Add a new bank account by following these steps: How do I add a new bank in my Upstox account?
- Stop your existing SIP by following these steps: How do I stop my mutual fund SIP at Upstox?
- Create a fresh SIP with the new bank account.

3) If your Mutual Fund SIPs are via PPB and you already have a Secondary bank account on Upstox:
- If you have any other bank mandate available, we will migrate your existing SIP to that mandate
- If you don’t have any bank mandate available, we will transfer your SIPs to your Secondary bank account and you will receive a mandate approval email. Please approve the mandate by following these steps:

• -> Click on ‘Click here’ or ‘Approve Mandate’ as per your email
• -> Select a verification method (NetBanking / Debit Card)
• -> Agree with the ‘Terms and Conditions’
• -> Approve using NetBanking or Debit Card details
• -> Your mandate will be approved within 5 working days.
• -> We will link your SIP to the approved mandate.

These changes are designed to ensure compliance with the latest RBI directives and to maintain the integrity of your transactions on Upstox. You can refer to the RBI FAQs here: Reserve Bank of India - Frequently Asked Questions.