India, April 24 -- The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank with effect from the close of business on April 24, 2026.

The bank is no longer allowed to carry out any banking activity with immediate effect. The RBI will also move the High Court to start winding up proceedings.

The central bank said the company has enough liquidity to repay all its depositors during the winding up process.

The RBI listed multiple reasons for the decision. It said the bank's affairs were run in a way that was harmful to the interests of both the institution and its depositors. It also flagged concerns around the management of the bank, saying its overall conduct was against public interest.

Further, the regu...