- With the status the Paytm Payments Bank in inducted in the Second Schedule to the Reserve Bank of India Act, 1934.
- This will lead to bringing more financial services and products to the Paytm Payments Bank.
- Due to this, the bank has become eligible to participate in government- and other large corporations-issued requests for proposals, primary auctions, fixed-rate and variable rate repos, and reverse repos.
- It can participate in marginal standing facilities and become a partner in various financial inclusion schemes of GOI.
- It has also become eligible for refinancing facility from the RBI at the bank rate.
- It also has the authority for a currency storage facility.
- Static Part:
- HQ of Paytm Payments Bank: Noida, Uttar Pradesh
- MD and CEO of Paytm Payments Bank: Satish Kumar Gupta
Question:
Q.1 Which Payment bank received scheduled bank status from RBI?
a. Paytm Payments Bank
b. Airtel Payment Bank
c. NSDL Payment Bank
d. Jio Payment Bank
a. Paytm Payments Bank
b. Airtel Payment Bank
c. NSDL Payment Bank
d. Jio Payment Bank