RBI Removes Paytm Payments Bank From Scheduled Banks List After Delhi HC Winding-Up Order

The Reserve Bank of India (RBI) has removed Paytm Payments Bank Limited from the Second Schedule to the Reserve Bank of India Act, 1934. The move follows the Delhi High Court's order directing the winding up of the bank.

The RBI announced the exclusion in a press release dated October 7, 2026. It stated that Paytm Payments Bank was removed from the Second Schedule pursuant to a notification dated July 31, 2026. The Second Schedule contains the list of banks recognised as “scheduled banks” under the RBI Act.

The development comes after the Delhi High Court allowed the RBI's plea seeking the winding up of Paytm Payments Bank under Sections 38 and 39 of the Banking Regulation Act, 1949. The bank had decided not to oppose the winding-up proceedings.

The High Court subsequently appointed Girikumar M. Nair as the Official Liquidator.

The RBI had earlier cancelled Paytm Payments Bank's banking license. It cited regulatory and governance failures while doing so.

Following the cancellation, the bank's Board approved voluntary winding up in principle. Its shareholders subsequently passed a special resolution consenting to the winding up.