RBI removes Paytm Payments Bank from scheduled banks list
In short
The RBI has removed Paytm Payments Bank from the list of scheduled banks after cancelling its banking licence. The bank is now formally out of the Second Schedule of the RBI Act, 1934.
This matters because scheduled-bank status affects a bank’s standing and access in the system. The reporting does not say what Paytm Payments Bank will do next.
What the reporting says
The RBI removed Paytm Payments Bank from its list of scheduled banks after cancelling its banking licence, according to publisher summaries. The bank was formally excluded from the Second Schedule of the RBI Act, 1934, with the regulator citing non-compliance and concerns over depositor interests. The immediate consequence is loss of scheduled-bank status, while the reporting does not add any new operational response from the bank.
Why it matters
The RBI removed Paytm Payments Bank from the list of scheduled banks after cancelling its banking licence, according to the summaries. The action formally excludes the lender from the Second Schedule of the RBI Act, 1934, and the reported reason is non-compliance and harm to depositor interests. The immediate impact is a loss of scheduled-bank status for Paytm Payments Bank. No additional response or timeline is stated.