The Delhi High Court has ordered the closure and winding up of Paytm Payments Bank, weeks after the Reserve Bank of India (RBI) cancelled its banking licence over concerns related to its operations and management.
Through orders issued on July 8 and July 22, 2026, the court directed that Paytm Payments Bank be wound up under the provisions of the Banking Regulation Act, 1949, along with the Companies Act, 2013.
The court also appointed Girikumar M Nair, a former Chief General Manager of the State Bank of India, as the official liquidator to oversee the winding-up process.
The RBI had cancelled Paytm Payments Bank’s licence on April 24, 2026, with immediate effect, following concerns raised over the bank’s functioning and regulatory compliance.
