The existing balances are expected to be refunded or made accessible through withdrawals and transfers, subject to the timelines and processes laid out during the closure. After the Reserve Bank of India scrapped its banking licence on Friday, customers of Paytm Payments Bank Ltd (PPBL) are seeking clarity on the safety of their deposits and the likelihood of refunds. The payments bank — once claiming a customer base of over 100 million — has been progressively moving toward closure after its banking licence was effectively scrapped by the regulator. The bank, promoted by One97 Communications and its founder Vijay Shekhar Sharma, had already been under restrictions since March 2022. In January 2024, the RBI barred the institution from accepting fresh deposits, citing persistent compliance concerns. The directive triggered unease among customers, many of whom began withdrawing their balances in anticipation of further action.…