Delhi High Court orders Paytm Payments Bank wound up after RBI licence cancellation
The Delhi High Court has ordered Paytm Payments Bank into liquidation, appointing former SBI executive Girikumar M. Nair as liquidator. Deposits remain protected, while Paytm says its UPI, recharge, bill-payment and merchant-payment services will continue through partner banks.
Delhi High Court ordered Paytm Payments Bank wound up after RBI cancelled its licence for persistent non-compliance. Former SBI executive Girikumar M. Nair is liquidator. Deposits are assured, while Paytm’s UPI, bill payment, recharge and merchant-payment services continue.
Why this matters
The liquidation order follows recent signals that Delhi HC ordered Paytm Payments Bank wound up and named a former SBI executive as liquidator after RBI cancelled the bank's licence.
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