RBI removes Paytm Payments Bank from list of scheduled banks
The Reserve Bank of India (RBI) removed Paytm Payments Bank Ltd from its list of scheduled banks on October 8, 2026. This action follows the cancellation of its banking licence due to non-compliance with regulatory norms, with RBI stating that the bank's operations were detrimental to depositors' interests. The removal impacts the bank's ability to operate within the formal banking sector.