RBI cancels banking licence of Paytm Payments Bank

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The enactment was taken due to the fact that the slope failed to comply with the conditions stipulated successful the Payments Bank licence issued to it, thereby violating the provisions of Section 22 (3)(g) of the BR Act, the cardinal bureau said. | Photo Credit: Reuters

The Reserve Bank of India (RBI) connected Friday (April 24, 2026) cancelled the banking licence issued to Paytm Payments Bank Limited nether Section 22(4) of the Banking Regulation Act, 1949 (‘BR Act’) effectual from adjacent of concern connected April 24, 2026.

“Consequently, Paytm Payments Bank Limited is prohibited from conducting the concern of ‘banking’ arsenic defined successful Section 5(b) oregon immoderate further concern specified nether Section 6 of the Banking Regulation Act, 1949 with contiguous effect,” RBI said successful a circular.

Published - April 24, 2026 07:31 p.m. IST

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