Submitted By: Shweta Verma
RBI cancels the Licence of Paytm Payments Bank Limited
The Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank Limited with effect from April 24, 2026, prohibiting it from carrying on any banking business and initiating winding-up proceedings before the High Court. The action was taken due to serious regulatory concerns, including mismanagement, operations detrimental to depositors’ interests, and non-compliance with licensing conditions under the Banking Regulation Act, 1949. Despite this, the bank has sufficient liquidity to repay depositors, and the decision follows earlier restrictions such as a ban on onboarding new customers and limitations on deposits and transactions.
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