RBI removes Paytm Payments Bank from scheduled banks list
In short
The Reserve Bank of India removed Paytm Payments Bank from the scheduled banks list. The summaries say this followed cancellation of its banking licence and exclusion from the Second Schedule of the RBI Act, 1934.
This matters because it formally strips the lender of scheduled-bank status. The available reporting does not spell out every effect on customers or operations.
What the reporting says
The Reserve Bank of India removed Paytm Payments Bank from the scheduled banks list after cancelling its banking licence. The summaries say the bank was excluded from the Second Schedule of the RBI Act, 1934, following earlier regulatory action and a Delhi High Court winding-up order under applicable laws. The immediate consequence is formal loss of scheduled-bank status; the detailed operational impact is not stated here.
Why it matters
The RBI removed Paytm Payments Bank from the list of scheduled banks after cancelling its banking licence. The summaries say the action followed non-compliance concerns and a Delhi High Court order directing winding up under applicable laws. The result is formal exclusion from the Second Schedule of the RBI Act, 1934, but the reporting does not detail customer-level or balance-sheet consequences.