Winding up of Paytm Payments Bank Limited
The Reserve Bank of India (RBI) has announced the winding up of Paytm Payments Bank Limited (PPBL) following an order from the High Court of Delhi. The RBI had previously cancelled PPBL's banking licence on April 24, 2026. Pursuant to the High Court's orders dated July 8, 2026, and July 22, 2026, the bank is to be wound up under the Banking Regulation Act, 1949, and the Companies Act, 2013. Shri Girikumar M Nair has been appointed as the Official Liquidator and has assumed all powers of the PPBL Board effective from July 8, 2026.
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The Reserve Bank of India (RBI) has announced the winding up of Paytm Payments Bank Limited (PPBL) following an order from the High Court of Delhi. The RBI had previously cancelled PPBL's banking licence on April 24, 2026. Pursuant to the High Court's orders dated July 8, 2026, and July 22, 2026, the bank is to be wound up under the Banking Regulation Act, 1949, and the Companies Act, 2013. Shri Girikumar M Nair has been appointed as the Official Liquidator and has assumed all powers of the PPBL Board effective from July 8, 2026.
- Who is affected
- Paytm Payments Bank Limited (PPBL)
- Required action
- The Official Liquidator must exercise all powers of the Board of PPBL.
- Key dates
- Cancellation of banking licence — 23 Apr 2026
- Commencement of Official Liquidator powers — 07 Jul 2026
Source details
- Source
- Reserve Bank of India
- Type
- press-release
- Published by source
- 27 Jul 2026
- Document number
- 2026-2027/771
- Issuing division
- Department of Communication
- Effective date
- 07 Jul 2026
- Coverage area
- banking
Clean document text
July 28, 2026
Winding up of Paytm Payments Bank Limited
The Reserve Bank of India (RBI) has, vide order dated April 24, 2026, cancelled the banking licence issued to Paytm Payments Bank Limited (PPBL) under Section 22(4) of the Banking Regulation Act, 1949 (‘BR Act’) effective from close of business on April 24, 2026. As indicated in the Press Release issued on the said date, the Reserve Bank, in exercise of powers conferred under Sections 38 and 39 of the Banking Regulation Act 1949, made an application before the Hon’ble High Court of Delhi for winding up of PPBL and appointment of Shri Girikumar M Nair, former CGM of State Bank of India, as Liquidator of PPBL.
- By an Order dated July 08, 2026 read with the Order dated July 22, 2026, the Hon’ble High Court of Delhi has ordered that PPBL be wound-up under the provisions of the Banking Regulation Act, 1949 read with the provisions of Companies Act, 2013. Further, the Hon’ble High Court appointed Shri Girikumar M Nair as the Official Liquidator of PPBL. As per the said Order, the Official Liquidator shall exercise all the powers prescribed under the provisions of the Banking Regulation Act, 1949 along with applicable provisions of the Companies Act, 2013. In terms of the said Order, the Official Liquidator shall, with effect from July 8, 2026, exercise all the powers of the Board of PPBL.
(Brij Raj)
Press Release: 2026-2027/771 Chief General Manager ᮧेस ᮧकाशनी PRESS RELEASE
भारतीय įरज़वर् बैंक
RESERVE BANK OF INDIA
0वेबसाइट : www.rbi.org.in/hindi संचार िवभाग, कᱶᮤीय कायार्लय, शहीद भगत ᳲसंह मागर्, फोटर्, मुंबई - 400 001 Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
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