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via livemint.comPolitics

RBI removes Paytm Payments Bank from list of scheduled banks after licence cancellation

FROM THE WIRE · LIVEMINT.COM

The Reserve Bank of India has removed Paytm Payments Bank from its list of recognised scheduled banks due to non-compliance with regulations. The bank's licence, cancelled in April 2023, was deemed detrimental to depositors' interests.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishReserve Bank of India removes Paytm Payments Bank from scheduled banks list due to regulatory non-compliance and 2023 licence cancellation.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01RBI removed Paytm Payments Bank from list of recognised scheduled banks.
  2. 02Paytm's banking licence was cancelled in April 2023 for regulatory non-compliance.
  3. 03Cancellation deemed detrimental to depositors' interests.

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