Archive · 28 Jul 2026
Delhi HC Orders Winding Up of Paytm Payments Bank
The Delhi High Court has ordered the winding up of Paytm Payments Bank following the RBI's decision to cancel its banking licence.
The RBI had been scrutinizing the bank for several years due to compliance and governance issues.
The court appointed Girikumar M. Nair, a former SBI official, as the liquidator.
The RBI had previously restricted the bank from onboarding new customers and accepting fresh deposits.
The liquidator will now exercise all the powers of the bank's board.
Delhi High Court orders winding up of Paytm Payments Bank.
RBI cancelled the bank's licence on April 24, 2026, citing compliance and governance concerns.
Girikumar M. Nair, former SBI CGM, appointed as the official liquidator.
Liquidator to exercise all powers of the bank's board from July 8, 2026.
RBI had imposed restrictions on the bank since 2022, including barring new customer onboarding and accepting fresh deposits.
- Who
- Delhi High Court, RBI, Girikumar M. Nair
- What
- Winding up of Paytm Payments Bank
- When
- April 24, 2026 (licence cancellation), July 8, 2026 (liquidator's powers)
- Where
- Delhi High Court
- Why
- Persistent compliance deficiencies and governance concerns
Regulatory Actions
Bank's Operations
Compliance and Governance
Regulatory Actions
The RBI cited persistent compliance deficiencies and governance concerns as reasons for the regulatory actions.
Bank's Operations
Paytm Payments Bank's operations were conducted in a manner detrimental to the interests of its depositors.
- Date of Licence Cancellation
- April 24, 2026
- Official Liquidator
- Girikumar M. Nair
- Effective Date of Liquidator's Powers
- July 8, 2026
- Regulatory Actions in 2022
- Barred from onboarding new customers
- Regulatory Actions in 2024
- Prevented from accepting fresh deposits and credits
