RBI Announces Exclusion of Paytm Payments Bank Limited from Second Schedule of RBI Act, 1934

The Reserve Bank of India (RBI) has officially announced the exclusion of "Paytm Payments Bank Limited" from the Second Schedule of the Reserve Bank of India Act, 1934.

The action has been officially notified vide Notification No. DoR.LIC.No.S3674/16.13.215/2026-27 dated July 31, 2026 and published in the Gazette of India, Part III - Section 4, dated September 07, 2026.

The Delhi High Court has also delivered an order regarding the closure of Paytm Payments Bank Limited (PPBL). Furthermore, the court has released orders to liquidate Paytm Payments Bank under the provisions of the Banking Regulation Act, 1949 and the Companies Act, 2013, vide orders dated July 8 and July 22, 2026.

According to the official orders issued by the RBI this year on April 24, 2026, the license of Paytm Payments Bank was cancelled permanently under Section 22(4) of the Banking Regulation Act, 1949. With this cancellation, the bank was restricted from accepting deposits and rendering banking services.

Paytm Payments Bank is an Indian payments bank that came into existence in 2017. Its headquarters is located in Noida, New Delhi. The bank got its license from the Reserve Bank of India to operate as a payments bank in the same year it was founded, i.e., 2017, and was launched in November 2017.