RBI removes Paytm Payments Bank from scheduled banks list after cancelling licence

The Reserve Bank of India (RBI) has removed Paytm Payments Bank Ltd (PPBL) from the list of scheduled banks after cancelling its banking licence. The RBI cancelled the licence in April over regulatory non-compliance, citing concerns that the bank's operations were harmful to depositors' interests. The Delhi High Court later ordered PPBL's winding up.