Paytm Payments Bank: A few months ago, RBI had canceled the license of Paytm Payments Bank. After which a petition was also filed in the Delhi High Court to formally close it. To which the High Court has given its green signal. Recently the Reserve Bank of India (RBI) has informed about this.

What did RBI tell?
In fact, on Tuesday, RBI said that Delhi High Court has ordered the complete closure of Paytm Payments Bank. Along with this, former State Bank of India (SBI) official Girikumar M. Nair has been appointed as the official liquidator to handle the assets and remaining processes of the bank.

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Girikumar M. Nair will oversee the entire process of liquidation of the bank from July 8. During this period he will have all the powers of the Board of Directors of the bank.

RBI had earlier canceled the license
On April 24, 2026, RBI had canceled the banking license of Paytm Payments Bank. After this, a petition was filed in the High Court to formally close the bank. In which RBI had said that the functioning of the bank was being run in such a manner that it could harm the interests of the bank and its depositors.

License was obtained in 2015
Let us tell you that Paytm Payments Bank got the license in the year 2015 and it was one of the largest payments banks in the country. In March 2022, RBI had stopped Paytm Payments Bank from adding new customers due to surveillance concerns. After this, in January 2024, due to continuous non-compliance of rules, RBI had also banned the bank from accepting new deposits. Now with the court order, the process of closing the bank has reached the final stage.

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