Current Affairs - Banking - Discussion

Paytm Payments Bank Limited (PPBL) was removed from the list of scheduled banks by the Reserve Bank of India (RBI) following the cancellation of its banking licence due to regulatory non-compliance. The bank was excluded from the Second Schedule of the Reserve Bank of India Act, 1934, which contains the list of scheduled banks. The RBI cancelled its banking licence in April 2026, citing concerns about the bank’s operations and their impact on the interests of depositors. Earlier, the bank had faced restrictions on onboarding new customers and accepting deposits, credits and wallet top-ups. The exclusion was a follow-up regulatory action after the licence cancellation.