Delhi HC orders Paytm Payments Bank to wind up after RBI licence cancellation
The Delhi High Court has ordered Paytm Payments Bank’s winding-up and appointed Girikumar M. Nari as liquidator. Paytm has moved UPI operations to partner banks while awaiting approval to relaunch its wallet under a PPI licence.
Delhi High Court ordered Paytm Payments Bank to wind up and appointed Girikumar M. Nari as liquidator after RBI cancelled its licence. Paytm has shifted UPI to partner banks and awaits approval for a PPI licence to revive its wallet.
Why this matters
The order follows recent reports that Delhi HC ordered Paytm Payments Bank's winding-up after RBI licence cancellation, while a separate recent signal said Paytm's app and UPI services continue.
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