Paytm Payments Bank licence cancelled by RBI - The Reserve Bank of… — Techstoker | Updates — TG.ME

- The Reserve Bank of India has cancelled the banking licence issued to Paytm Payments Bank Limited
- As a consequence, Paytm Payments Bank Limited is prohibited from conducting the business of ‘banking’
- The regulatory agency said it will make an application for winding up of the bank before the High Court
- Previously, the bank was directed to stop onboarding of new customers with effect from March 11, 2022