RBI formally excludes Paytm Payments Bank from scheduled-banks list
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Wednesday, October 7, 2026
· Updated Oct 7, 2026 11:48
The Reserve Bank of India confirmed on Wednesday that Paytm Payments Bank has been excluded from the Second Schedule to the RBI Act, 1934, removing its scheduled-bank status under a July 31 notification gazetted September 7.
Why it matters: The formal exclusion closes the book on the regulator's long-running action against the payments bank, tightening India's stance on digital banking compliance.
Data as of RBI press release 2026-2027/1273 published October 7, 2026; notification dated July 31, 2026, gazetted September 7, 2026. Single-sourced to the RBI release; no independent reporting corroborated in this pass.
The Reserve Bank of India said Wednesday that Paytm Payments Bank Limited has been excluded from the Second Schedule to the RBI Act, 1934, under a notification dated July 31, 2026 that was published in the Gazette of India on September 7. The announcement came in RBI press release 2026-2027/1273, signed by chief general manager Brij Raj.
The move is the formal endpoint of the central bank’s supervisory action against the payments bank, which has faced RBI business restrictions since 2024. Exclusion from the Second Schedule means the institution no longer holds scheduled-bank status under the Act.
Sources
- Exclusion of Paytm Payments Bank Limited from the Second Schedule to the Reserve Bank of India Act, 1934 · Reserve Bank of India · 2026-10-07