Paytm Payments Bank Shut Down as RBI Cancels Operating License

24 Apr 2026, 15:34 by Himanshu · KalingaTV

Delhi: The Reserve Bank of India (RBI) has cancelled the license of Paytm Payments Bank Limited (PPBL), effectively shutting down its banking operations.

The move comes after persistent non-compliance with regulatory norms and supervisory concerns, the central bank said in a statement on Friday.

Following the cancellation, Paytm Payments Bank will not be allowed to accept fresh deposits, undertake credit transactions, or offer banking services.

The RBI had earlier, on January 31, 2024, directed PPBL to stop onboarding new customers and barred it from accepting deposits or top-ups in customer accounts, wallets, FASTags, and NCMC cards after February 29, 2024, later extended to March 15, 2024.

The RBI cited “persistent non-compliances and continued material supervisory concerns” as the primary reasons for the action.

Paytm Payments Bank Shut Down as RBI Cancels Operating License

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