Exclusion of “Paytm Payments Bank Limited” from the Second Schedule to the Reserve Bank of India Act, 1934

The Reserve Bank of India has excluded Paytm Payments Bank Limited from the Second Schedule to the Reserve Bank of India Act, 1934, according to a notification dated July 31, 2026, and published in the Gazette of India on September 7, 2026, as reported by the Reserve Bank of India.

In a separate development, the Reserve Bank of India raised its benchmark repo rate by 25 basis points to 5.50%, as reported by Quartz and BBC World. The rate hike, aimed at controlling inflation, may lead to increased costs for car, home, and personal loans.

The RBI Governor, according to BBC World, stated that the decision was influenced by challenging geopolitical developments, and that rate cuts are unlikely in the near future. The central bank projects a Consumer Price Index (CPI) inflation rate of 5.2% for 2026-27.

Brief written by urgent.news from Reserve Bank of India, Quartz, BBC World — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.