Paytm Payments Bank Excluded
The Reserve Bank of India has removed Paytm Payments Bank Limited from its Second Schedule, a list of banks that are eligible for certain privileges
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Paytm Payments Bank's banking licence was cancelled due to non-compliance with norms.
Story published. The Reserve Bank of India has removed Paytm Payments Bank Limited from its Second Schedule, a list of banks that are eligible for certain privileges
The Reserve Bank of India has excluded Paytm Payments Bank Limited from the Second Schedule to the Reserve Bank of India Act, 1934.
This exclusion means that Paytm Payments Bank Limited will no longer be considered a scheduled bank under the Act.
The Second Schedule to the Reserve Bank of India Act, 1934, is a list of banks that are eligible for certain privileges, such as access to the Reserve Bank's liquidity adjustment facility and the ability to maintain deposits with the Reserve Bank.
The exclusion of Paytm Payments Bank Limited from this list may have implications for the bank's operations and its ability to provide certain services to its customers.
## What it means The Reserve Bank of India's decision to exclude Paytm Payments Bank Limited from the Second Schedule is a significant development in the Indian banking sector. It may affect the bank's ability to operate and provide services to its customers, and may also have implications for the broader financial system.
## Why it matters The exclusion of Paytm Payments Bank Limited from the Second Schedule matters because it may impact the bank's ability to access certain privileges and services that are available to scheduled banks. This may, in turn, affect the bank's ability to provide services to its customers and to operate effectively in the Indian banking sector.
