Document title: Winding up of Paytm Payments Bank Limited
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/771
Date: July 28, 2026
Banking and Credit
The RBI, exercising powers under Sections 38 and 39 of the Banking Regulation Act, 1949, cancelled the banking licence of Paytm Payments Bank Limited (PPBL) effective at the close of business on 24 April 2026, pursuant to Section 22(4) of the Act. The cancellation was announced in a press release dated 28 July 2026.
Regulatory and Policy Measures
Following the licence cancellation, the RBI filed an application before the Hon’ble High Court of Delhi seeking the winding up of PPBL and the appointment of Shri Girikumar M Nair, former Chief General Manager of State Bank of India, as liquidator. The Delhi High Court issued an order on 8 July 2026 directing that PPBL be wound up under the Banking Regulation Act and appointed Shri Girikumar M Nair as the Official Liquidator, vesting him with the powers of the Board from that date. A subsequent order dated 22 July 2026 confirmed the liquidation under both the Banking Regulation Act and the Companies Act, 2013, and authorised the liquidator to exercise all powers prescribed under these statutes.
The Official Liquidator shall exercise all powers of the Board of PPBL with effect from 8 July 2026, in accordance with the provisions of the Banking Regulation Act, 1949 and the Companies Act, 2013.