India’s RBI cancels Paytm Payments Bank licence and orders winding up
→Paytm Payments Bank must cease all banking operations immediately
Change
India’s Reserve Bank of India cancelled the banking licence of Paytm Payments Bank effective April 24, 2026, prohibiting all banking activity and initiating winding-up proceedings.
Why it matters
The order removes the bank’s authority to operate under the Banking Regulation Act with immediate effect. RBI will file for winding up, requiring full cessation of operations while deposit liabilities are settled during the process.
Implications
- — Paytm Payments Bank must stop all banking operations immediately — licence void
- — Customers and counterparties must transition balances and services — continuity risk
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Source
View on RBI