RBI removes Paytm Payments Bank from list of scheduled banks

The Reserve Bank of India has officially removed Paytm Payments Bank Ltd from the Second Schedule of the RBI Act after cancelling its banking licence in April for non-compliance. The notification was published on July 31 and in the Gazette of India in September; the Delhi High Court had ordered the bank wound up.

• RBI cancelled PPBL's banking licence in April over regulatory violations
• Notification of removal from the Second Schedule was published on July 31
• The Delhi High Court ordered Paytm Payments Bank to be wound up
• Since 2022 the bank was barred from onboarding new customers and taking deposits