RBI Revokes Paytm Payments Bank Licence, Plans To Approach High Court | What Now?
RBI has cancelled the banking licence of Paytm Payments Bank with immediate effect from 24th April 2026 and will apply for its winding up in the High Court.The regulator cited four major reasons: operations detrimental to the bank and depositors, management prejudicial to public interest, no useful purpose in continuing, and repeated non-compliance with licence conditions.This follows years of restrictions — new customer onboarding stopped in 2022 and fresh deposits barred since January 2024.Paytm Payments Bank, backed by One97 Communications, could accept small deposits but not lend. The move formalises what the market had already anticipated.Paytm shares fell only 0.5% as much of the damage was priced in earlier.
#rbi #paytm #paytmearnmoney #banking #highcourt #hc #upi #reservebankofindia
Mint is an Indian financial daily newspaper published by HT Media. The Mint YT Channel brings you cutting edge analysis of the latest business news and financial news. With in-depth market coverage, explainers and expert opinions, we break down and simplify business news for you.
Click here to download the Mint App: https://livemint.onelink.me/MrDS/p0kx3pdg
Now make Mint your preferred source on Google and get business & finance updates first.
Add here – https://www.google.com/preferences/source?q=mint
Subscribe to Mint Premium Now: <a href="https://www.read.ht/Scaq" target="_blank" rel=”nofollow”>https://www.read.ht/Scaq
Subscribe to Mint’s WhatsApp Channel: https://whatsapp.com/channel/0029Va91YSeGehEM6oMesj3d
