Mumbai, July 28, 2026 (Yes Punjab News)
The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL), completing a key legal step in the closure of the bank after the Reserve Bank of India (RBI) cancelled its licence over continued regulatory violations.
The RBI said in a statement on Tuesday that the High Court, through orders issued on July 8 and July 22, 2026, directed that PPBL be wound up under the provisions of the Banking Regulation Act, 1949, along with applicable provisions of the Companies Act, 2013.
The court has appointed Girikumar M. Nair, former Chief General Manager of the State Bank of India, as the Official Liquidator for PPBL.
According to the RBI, the Official Liquidator has been empowered to exercise all functions and responsibilities prescribed under the Banking Regulation Act and relevant provisions of the Companies Act. The liquidator has also assumed the powers of the bank’s board of directors with effect from July 8, 2026, as per the court’s order.
The winding-up proceedings follow the RBI’s decision in April 2026 to cancel PPBL’s banking licence after finding persistent non-compliance with regulatory requirements.
The central bank had earlier stated that the manner in which PPBL’s affairs were being managed was not in the interest of depositors. Following the licence cancellation, the RBI had informed that it would approach the Delhi High Court for formal winding-up proceedings.
The latest order marks the final phase in the regulatory process concerning Paytm Payments Bank, which had faced repeated scrutiny over compliance-related issues.
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