India, April 26 -- The Reserve Bank of India (RBI) has announced the cancellation of the banking licence of Paytm Payments Bank Limited (PPBL).

In an official statement, the RBI said, "The Reserve Bank of India (RBI) has, vide order dated April 24, 2026, cancelled the banking licence issued to Paytm Payments Bank Limited under Section 22(4) of the Banking Regulation Act, 1949 ('BR Act') effective from close of business on April 24, 2026."

As a result, Paytm Payments Bank is prohibited from carrying out the business of "banking" as defined under Section 5(b), or any additional business specified under Section 6 of the Banking Regulation Act, 1949, with immediate effect.

The central bank also stated that it will file an application befor...