Key Insights:

  • Paytm’s Index score collapsed after the January 2024 regulatory action, falling from 46.6 to 20.2 in just one month.
  • The disruption also hit its customer base, with Current Customer scores sliding from 58.3% to 35.4% by mid-2025.
  • While there are early signs of recovery — Index at 30.7 and customers at 38.9% in August 2025, both remain well below 2023 levels.

For much of 2023, Paytm’s brand health and customer base held steady. That stability ended on January 31, 2024, when the Reserve Bank of India (RBI) barred Paytm Payments Bank from accepting deposits and onboarding new users. The action followed repeated lapses in compliance, including faulty KYC checks and concerns over data sharing. The decision marked the start of a sharp decline in both brand perception and customer usage, YouGov BrandIndex data shows how consumer perceptions of Paytm have shifted since that fall, alongside changes in its current customer base.

Paytm’s Index scores stood at 46.6 on January 30, 2024. However, following the RBI’s announcement a day later restricting Paytm Payments Bank, the score began to drop sharply. By March 1, 2024, the score had fallen to 20.2 — a decline of 26.4 points in just 31 days. Paytm’s stock plummeted, hit an all-time low of ₹310.00 on May 9, 2024, underscoring the wider market impact of the clampdown.

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Through the rest of 2024, Index scores remained low, fluctuating in the 20–25 range. By 2025, the measure shows modest improvement, rising to 30.7 on August 23, 2025. While this marks a recovery from the 2024 low, scores remain well below their 2023 levels.

Paytm’s Current Customer score also shifted sharply. On January 31, 2024, Current Customers score was 58.3% It then began a gradual decline reaching 40.7% on June 9, 2024. The decline extended into the following year, hitting a low of 35.4% on July 3, 2025. Since then, there have been early signs of stabilization, with the score recovering slightly to 38.9% on August 21, 2025.

Methodology: YouGov BrandIndex collects data on thousands of brands every day. Paytm’s Index score is based on overall brand health, combining measures of General Impression, Satisfaction, Quality, Corporate Reputation, Value, and Recommendation. Current Customer score is based on the question: “Do you CURRENTLY use (product or service of) any of the following financial services apps/websites/brands? Please select all that apply.”

Scores are reported as net scores from –100 to +100 (Index) and as percentages (Current Customer), based on daily nationally representative surveys of Indian adults, weighted to census targets. Figures are shown as a 4-week moving average with sample sizes ranging from 112 to 1109 between March 15, 2023 to August 23, 2025.