New Delhi, July 28 -- The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL) and appointed former State Bank of India (SBI) Chief General Manager Girikumar M Nair as the Official Liquidator, the Reserve Bank of India (RBI) said on Tuesday.

The central bank in an official statement said the High Court, through orders dated July 8, 2026 and July 22, 2026, directed that PPBL be wound up under the provisions of the Banking Regulation Act, 1949, read with the Companies Act, 2013.

The court also appointed Girikumar M Nair as the Official Liquidator of the bank. According to the RBI, the Official Liquidator will exercise all powers prescribed under the Banking Regulation Act along with the applicable provisions o...