New Delhi, April 25 -- The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank Limited with effect from April 24, 2026, under Section 22(4) of the Banking Regulation Act, 1949 ('BR Act'), citing serious regulatory and governance concerns.

The action bars the bank from conducting any banking business with immediate effect.

In a press release, RBI said, "Consequently, Paytm Payments Bank Limited 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."

The central bank said it will apply to the High Court for winding up of the bank.

Reasons for Cancellation

The centra...