Paytm Payments Bank receives Scheduled Bank status from RBI

Paytm Payments Bank Limited today announced that it has been included in the Second Schedule to the Reserve Bank of India Act, 1934. Being a Scheduled Payments Bank, Paytm Payments Bank can now explore new business opportunities. The bank can participate in government and other large corporations issued Request for Proposals (RFP), primary auctions, fixed-rate and variable rate repos, and reverse repos, along with participation in Marginal Standing Facility.The Bank would now also be eligible to partner in government-run financial inclusion schemes.