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Paytm Payments Bank gets scheduled bank status from RBI
Paytm Payments Bank has been given the scheduled bank status by the RBI.
By
migrator
migrator
New Delhi
It has been included in the Second Schedule to the Reserve Bank of India Act, 1934 and the approval will help it to bring more financial services and products.
With the scheduled bank status, the bank can explore new business opportunities, including participation in government and other large corporations issued request for proposals, primary auctions, fixed-rate and variable rate repos, and reverse repos. “The inclusion will help us innovate further and bring more financial services and products to the underserved and unserved population in India,” Paytm Payments Bank MD-CEO Satish Kumar Gupta said.
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