New Delhi, April 24 -- The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank Limited with effect from the close of business on April 24, 2026, citing serious regulatory violations and concerns over the manner in which the bank's affairs were conducted.

In its order on Friday, the RBI said the bank's operations were found to be detrimental to the interests of depositors and the institution itself, and that the general character of its management was prejudicial to public interest.

The regulator also noted that the bank failed to comply with conditions stipulated in its payments bank licence.

RBI said, "The affairs of the bank were conducted in a manner detrimental to the interest of the bank and its de...