RBI revokes licence of Paytm Payments Bank
The Reserve Bank of India (RBI) on Friday revoked the banking licence of Paytm Payments Bank Limited, bringing a sudden end to one of India’s most high-profile payments bank experiments.
In a notification dated April 24, the RBI said it had cancelled the banking licence issued to Paytm Payments Bank Limited under Section 22(4) of the Banking Regulation Act, 1949, with effect from the close of business on April 24, 2026.
