RBI
RBI Removes Paytm Payments Bank from Scheduled Banks List
8 October 2026 · India Today | Latest Stories
Following the cancellation of Paytm Payments Bank's license, the RBI has removed it from the Second Schedule of the RBI Act, ending its status as a scheduled bank. The removal means PPBL can no longer operate as a scheduled bank.
Points to Remember
- RBI removed Paytm Payments Bank from the Second Schedule of the RBI Act.
- The action follows the cancellation of PPBL's banking license.
- PPBL is no longer a scheduled bank.
- The news is dated October 7, 2026.
Why it matters
Paytm Payments Bank customers may need to make alternative banking arrangements as it is now a non-scheduled bank. This highlights how quickly regulatory status can change and the importance of monitoring counterparty risks.
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