Now Reading: RBI removes Paytm Payments Bank from scheduled banks list
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RBI removes Paytm Payments Bank from scheduled banks list
The Reserve Bank of India (RBI) has formally removed Paytm Payments Bank Ltd (PPBL) from the list of scheduled banks following the cancellation of its banking licence, according to a statement from the central bank on Wednesday, 7 October 2026. The notification was issued on 31 July and published in the Gazette of India in September. The exclusion from the Second Schedule of the RBI Act, 1934 marks the latest step in the winding down of the lender.
The RBI had cancelled PPBL's banking licence in April 2026 for non-compliance with norms, stating the bank's affairs were conducted in a manner detrimental to the interests of its depositors. The Delhi High Court subsequently ordered the winding up of the bank. PPBL, an associate of Vijay Shekhar Sharma-promoted fintech Paytm, had faced regulatory restrictions since March 2022, including a ban on onboarding new customers and further curbs on deposits and top-ups in January and February 2024.
Indian Opinion Analysis
Both CNBC TV18 and Economic Times provide straight neutral-report coverage of the RBI's removal of Paytm Payments Bank from the scheduled banks list, attributing facts directly to the central bank's statement and noting the prior licence cancellation and Delhi High Court winding-up order. Neither outlet introduces a pro-government or critical stance, the framing is uniform, agency-style reporting on the regulatory action. The implications of the exclusion, as stated by both sources, are that the bank's changed regulatory status is now formally recorded, completing another phase of the wind-down process initiated by the RBI's April 2026 licence cancellation.
Coverage: 2 sources, 2 neutral
Sources (2): cnbctv18.com (neutral report), economictimes.indiatimes.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
