Economy News

RBI Banking Regulation Update

October 12 , 2026 10 hrs 0 min 30 0

The Reserve Bank of India (RBI) removed Paytm Payments Bank Limited (PPBL) from the Second Schedule of the RBI Act, 1934, following the cancellation of its banking licence.
In April 2026, the RBI cancelled PPBL’s banking licence for non-compliance with regulations and concerns over the interests of depositors.
The Second Schedule of the RBI Act, 1934 contains the list of scheduled banks that meet specified eligibility requirements.
In March 2022, the RBI barred PPBL from onboarding new customers due to supervisory concerns.
In January and February 2024, the RBI imposed further restrictions, including stopping additional deposits, credits and top-ups in customer accounts and wallets.
The Delhi High Court subsequently ordered the winding up of PPBL.