Case Brief
The Reserve Bank of India cancelled the banking licence of Paytm Payments Bank Limited under Section 22(4) of the Banking Regulation Act, 1949, effective close of business on April 24, 2026. RBI also moved the Hon’ble High Court of Delhi for winding up of the bank and appointment of a liquidator. The High Court then ordered PPBL to be wound up under the Banking Regulation Act, 1949 read with the Companies Act, 2013, and appointed Shri Girikumar M Nair as the Official Liquidator, who was authorised to exercise the powers of the Board from July 8, 2026.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Payment entity
- Action Type
- License cancellation