mumbai, April 25 -- The Reserve Bank of India (RBI) on Friday cancelled the licence of Paytm Payments Bank, more than two years after regulatory orders brought its operations to a halt, stating that its continuation served no public interest and was detrimental to depositors' interests. "Consequently, Paytm Payments Bank is prohibited from conducting the business of 'banking' as defined in Section 5(b) or any additional business specified under Section 6 of the Banking Regulation Act, 1949, with immediate effect," RBI said in its order. The bank started operations in May 2017. Payments banks were conceptualized as a separate category in 2015 to reach the under-banked and unbanked masses, accepting deposits of up to Rs.2 lakh per customer. B...