Paytm Payments Bank has been given the scheduled bank status by the Reserve Bank of India. The bank has been included in the Second Schedule to the Reserve Bank of India Act, 1934 and the approval will help it to bring more financial services and products. The bank supports 33.3 crore Paytm Wallets and enables consumers to make payments at over 87,000 online merchants and 2.11 crore in-store merchants.
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With the scheduled bank status:
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