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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.
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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.
(Brij Raj)
Press Release: 2026-2027/771 Chief General Manager ᮧेस ᮧकाशनी PRESS RELEASE
भारतीय įरज़वर् बैंक
RESERVE BANK OF INDIA
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