Reserve Bank of India (RBI), Department of Supervision, Kanpur (Uttar Pradesh), has issued a notice regarding the cancellation of the banking licence of Paytm Payments Bank Limited under Section 22(4) of the Banking Regulation Act, 1949, effective from close of business on April 24, 2026. Following this order, Paytm Payments Bank Limited is no longer permitted to conduct banking business as defined under Sections 5(b) and 6 of the Banking Regulation Act, 1949. The RBI will initiate proceedings for winding up of the bank before the High Court. The RBI stated that the decision was taken due to multiple regulatory concerns, including: Conduct of the bank’s affairs being detrimental to depositors’ interests Management practices being prejudicial to public interest Non-compliance with regulatory provisions and licensing conditions Failure to meet conditions under Section 22(3) of the Banking Regulation Act Earlier, restrictions were already imposed on onboarding new customers (from March 11, 2022) and on accepting deposits, credits, and wallet top-ups (from January–February 2024). RBI also noted that the bank has sufficient liquidity to repay all deposit liabilities during the winding-up process. Place: Kanpur, Uttar Pradesh Date: May 30, 2026 Issued by: Deputy General Manager, Reserve Bank of India