New Delhi: The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL) following the Reserve Bank of India’s (RBI) decision to revoke the bank’s licence earlier this year, according to media reports.
In a statement issued on Tuesday, the RBI said the High Court, through orders dated 8 July and 22 July 2026, directed that PPBL be wound up under the provisions of the Banking Regulation Act, 1949, read with the Companies Act, 2013.
The court has appointed an Official Liquidator to oversee the winding-up process. According to the RBI, the liquidator has been authorised to exercise all powers under the Banking Regulation Act and the relevant provisions of the Companies Act.
The RBI said the Official Liquidator has assumed the powers of PPBL’s board with effect from 8 July 2026.
The central bank cancelled PPBL’s banking licence in April 2026, citing persistent regulatory non-compliance. At the time, it said the bank’s operations were being conducted in a manner detrimental to the interests of its depositors and announced it would seek a court order to wind up the bank.
According to media reports, Paytm Payments Bank had faced repeated regulatory action over the past several years.
In March 2022, the RBI barred the bank from onboarding new customers after identifying “material supervisory concerns” and directed it to conduct a comprehensive audit of its technology systems.
The regulator later imposed additional business restrictions in January and February 2024, including a ban on fresh deposits, credits and top-ups in customer accounts, prepaid instruments and wallets.
When revoking the licence in April 2026, the RBI said the bank’s affairs were being conducted in a manner detrimental to its own interests and those of its depositors
