{
  "id": 12637062,
  "title": "RBI Removes Paytm Payments Bank From Scheduled Banks List After Cancellation Of Banking Licence",
  "url": "https://urgent.news/2026/10/07/rbi-removes-paytm-payments-bank-from-scheduled-banks-list-after",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T13:27:36.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/rbi-removes-paytm-payments-bank-from-scheduled-banks-list-after-cancellation-of-banking-licence"
  },
  "original_language": "en",
  "account": "Mumbai, October 7 - The Reserve Bank of India has removed Paytm Payments Bank from the list of scheduled banks after the cancellation of its banking license. In April 2023, the RBI had cancelled Paytm Payments Bank Limited's (PPBL) banking license for non-compliance with norms, stating that the bank's affairs were conducted in a manner detrimental to the interest of its depositors. The Delhi High Court subsequently ordered that PPBL be wound up. PPBL has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934, according to a statement released by the central bank on Wednesday. The Second Schedule is the official list of recognized banks that meet RBI's financial standards and receive special operational privileges. Scheduled bank refers to a bank included in the Second Schedule. The bank had faced regulatory scrutiny multiple times, including in March 2022 when the RBI barred it from onboarding new customers. Upon the cancellation of the license, the RBI had also directed PPBL to stop onboarding new customers, and had imposed certain business restrictions on the bank earlier.",
  "summary": "Mumbai, Oct 7: The Reserve Bank has officially removed Paytm Payments Bank from the list of recognised scheduled banks following the cancellation of its banking licence. In April this year, the Reserve Bank of India (RBI) had cancelled the banking licence issued to PPBL for non-compliance with norms, saying affairs of the bank were conducted in a manner detrimental to the interest of its…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}