News > Paytm Payments Bank Gets RBI's Nod For Scheduled Bank Status

Paytm Payments Bank Gets RBI's Nod For Scheduled Bank Status

Paytm Payments Bank has gained Reserve Bank of India's (RBI) approval to function as a scheduled payments bank, it said on Thursday, helping it to expand its financial services operations.

As a scheduled payments bank, Paytm Payments can participate in government and companies' request for proposals, primary auctions, fixed-rate and variable rate repos, and reverse repos, along with participation in Marginal Standing Facility.