India's Central Bank Revokes Paytm Payments Bank Permit
India's Reserve Bank of India (RBI) has revoked the banking permit of Paytm Payments Bank, effective 24 April 2026, citing mismanagement and harm to depositors' interests. The bank is required to cease operations immediately and will be wound up in the High Court. The RBI stated that the bank failed to meet the conditions of its permit and that continuing operations would not serve public interest.
Topics: Banking India Paytm Payments Bank RBI Regulatory Action