The Reserve Bank of India (RBI), in a press release dated 28.07.2026, stated that it had cancelled the banking licence of Paytm Payments Bank Limited (PPBL) under Section 22(4) of the Banking Regulation Act, 1949 with effect from the close of business on 24.04.2026. Following the licence cancellation, RBI applied before the Hon’ble High Court of Delhi under Sections 38 and 39 of the Banking Regulation Act, 1949 for winding up PPBL and for the appointment of Shri Girikumar M. Nair, former Chief General Manager of State Bank of India, as Liquidator. The RBI further stated that, by orders dated 08.07.2026 read with 22.07.2026, the Hon’ble High Court of Delhi ordered the winding up of PPBL under the Banking Regulation Act, 1949 read with the Companies Act, 2013, appointed Shri Girikumar M. Nair as the Official Liquidator, and directed that he exercise all powers prescribed under the Banking Regulation Act, 1949 and the applicable provisions of the Companies Act, 2013. The Official Liquidator is also to exercise all the powers of the Board of PPBL with effect from 08.07.2026.
Reserve Bank of India
Date : Jul 28, 2026
Winding up of Paytm Payments Bank Limited
The Reserve Bank of India (RBI) has, vide order dated April 24, 2026, cancelled the banking licence issued to Paytm Payments Bank Limited (PPBL) under Section 22(4) of the Banking Regulation Act, 1949 (‘BR Act’) effective from close of business on April 24, 2026. As indicated in the Press Release issued on the said date, the Reserve Bank, in exercise of powers conferred under Sections 38 and 39 of the Banking Regulation Act 1949, made an application before the Hon’ble High Court of Delhi for winding up of PPBL and appointment of Shri Girikumar M Nair, former CGM of State Bank of India, as Liquidator of PPBL.
2. By an Order dated July 08, 2026 read with the Order dated July 22, 2026, the Hon’ble High Court of Delhi has ordered that PPBL be wound-up under the provisions of the Banking Regulation Act, 1949 read with the provisions of Companies Act, 2013. Further, the Hon’ble High Court appointed Shri Girikumar M Nair as the Official Liquidator of PPBL. As per the said Order, the Official Liquidator shall exercise all the powers prescribed under the provisions of the Banking Regulation Act, 1949 along with applicable provisions of the Companies Act, 2013. In terms of the said Order, the Official Liquidator shall, with effect from July 8, 2026, exercise all the powers of the Board of PPBL.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/771
