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.
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