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( As on 24/04/2026 19:25)

RBI Cancels Licence of Paytm Payments Bank; Initiates Winding-Up Process

The Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank Limited with effect from the close of business on April 24, 2026.

Following the cancellation, the bank is no longer permitted to carry out any banking activities as defined under the Banking Regulation Act, 1949. The RBI will also initiate proceedings for winding up of the bank by approaching the High Court.

The central bank stated that Paytm Payments Bank has sufficient liquidity to fully repay its depositors during the winding-up process.

The action was taken due to serious regulatory concerns, including operations conducted in a manner detrimental to the interests of depositors, governance issues, and failure to comply with licensing conditions. RBI also noted that continuing the bank’s operations would not serve public interest.

Earlier, the bank had been directed to stop onboarding new customers from March 11, 2022, and faced further restrictions in early 2024, including a ban on accepting fresh deposits or credits in customer accounts and wallets.