- 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:
a. Paytm Payments Bank
b. Airtel Payment Bank
c. NSDL Payment Bank
d. Jio Payment Bank