Archive · 8 Oct 2026
RBI Removes Paytm Payments Bank From Scheduled Banks List
The Reserve Bank of India has taken Paytm Payments Bank off its official list of scheduled banks.
This follows the cancellation of the bank’s licence in April 2026.
The RBI said the bank did not follow rules and that its affairs could harm the bank and its depositors.
The bank had already faced restrictions, including a ban on taking new customers in 2022.
In 2024, the RBI also restricted new deposits and top-ups in certain accounts and wallets.
The Delhi High Court later ordered the bank to be wound up.
The RBI said the bank had enough money to repay its depositors during that process.
Paytm said its app and other listed services would continue operating.
The RBI excluded Paytm Payments Bank Ltd (PPBL) from the Second Schedule to the RBI Act.
The exclusion was announced on October 7, 2026; the notification was dated July 31 and published in the Gazette in September.
The RBI had cancelled PPBL’s banking licence effective April 24, 2026, citing non-compliance and concerns about the bank’s affairs.
Earlier restrictions included a ban on onboarding new customers from March 2022 and limits on deposits, credits and top-ups in 2024.
The Delhi High Court ordered PPBL’s winding up; the RBI said the bank had enough liquidity to repay its deposits.
- Who
- The Reserve Bank of India and Paytm Payments Bank Ltd.
- What
- The RBI removed PPBL from the Second Schedule to the Reserve Bank of India Act, 1934.
- When
- The removal was announced on October 7, 2026; the notification was dated July 31, 2026, and published in the Gazette on September 7, 2026.
- Where
- India.
- Why
- The RBI had cancelled PPBL’s banking licence over regulatory non-compliance and concerns about the conduct of its affairs.
- Bank
- Paytm Payments Bank Ltd (PPBL)
- Regulator
- Reserve Bank of India (RBI)
- Schedule change
- PPBL was excluded from the Second Schedule to the Reserve Bank of India Act, 1934.
- Licence cancellation
- The RBI cancelled PPBL’s banking licence effective at the close of business on April 24, 2026.
- Earlier restrictions
- The RBI barred new customer onboarding from March 11, 2022, and imposed further restrictions on deposits, credits and top-ups in January and February 2024.
- Winding up
- The Delhi High Court ordered PPBL to be wound up.
- Deposits and services
- The RBI said PPBL had enough liquidity to repay its deposit liability; Paytm said its app and listed services would continue operating.
Sources
RBI removes Paytm Payments Bank from scheduled banks list: What it means for customers?
RBI removes Paytm Payments Bank from scheduled banks list
RBI drops Paytm Payments Bank from scheduled banks list after licence cancellation - Telegraph India
RBI Removes Paytm Payments Bank From Scheduled Banks List
RBI removes Paytm Payments Bank from list of scheduled banks
RBI removes Paytm Payments Bank from list of scheduled banks after cancellation of banking licence — What we know
