Exclusion of “Paytm Payments Bank Limited” from the Second Schedule to the Reserve Bank of India Act, 1934
In short
The Reserve Bank of India said Paytm Payments Bank Limited was excluded from the Second Schedule to the Reserve Bank of India Act, 1934, via Notification DoR.LIC.No.S3674/16.13.215/2026-27 dated July 31, 2026. The exclusion was published in the Gazette of India (Part III - Section 4) on September 07, 2026. In simple terms, Paytm Payments Bank is no longer listed in the RBI’s scheduled-bank roster under that law, which changes its formal status in the banking system. No closing date or validity period was stated for the exclusion.
Why it matters
A supervisory action against a named institution — restrictions on its business, removal from the schedule of recognised banks, or a winding-up. These are the most consequential thing a banking regulator does to a single entity, and the order states exactly which activities are curtailed and for how long. This classification and note were written here from Reserve Bank of India's own published document.