Paytm Payments Bank receives Scheduled Bank status from RBI

Paytm on Thursday said that Paytm Payments Bank Limited (PPBL) has received Scheduled Bank status from the RBI. PPBL has been included in the Second Schedule to the Reserve Bank of India Act, 1934, and can now explore new business opportunities, it added. The bank would now also be eligible to partner in government-run financial inclusion schemes, Paytm said.