Delhi HC orders Paytm Payments Bank liquidation, appoints former SBI executive as liquidator
The Delhi High Court has ordered Paytm Payments Bank to be wound up following the RBI’s cancellation of its licence. Former SBI executive Girikumar M Nair will oversee liabilities and depositor repayments, while Paytm says its platform services through partner banks continue.
Delhi High Court ordered Paytm Payments Bank wound up after RBI cancelled its licence, appointing former SBI executive Girikumar M Nair as liquidator. He will settle liabilities and repay depositors; Paytm platform services through other banking partners continue.
Why this matters
The liquidation follows Paytm Payments Bank's licence cancellation and earlier warnings that the loss could disrupt EMIs, SIPs, FASTag and OTT auto-debits.
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