RBI cancels Paytm Payments Bank's license, cites 'detrimental' operations
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The Reserve Bank of India (RBI) has revoked the banking license of Paytm Payments Bank Limited.
The decision was taken earlier today, and is effective from close of business on April 24, 2026.
The RBI cited that the bank's operations were "detrimental to the interest of the bank and its depositors."
It also failed to comply with conditions set out in the payments bank license issued to it.
The decision was taken earlier today, and is effective from close of business on April 24, 2026.
The RBI cited that the bank's operations were "detrimental to the interest of the bank and its depositors."
It also failed to comply with conditions set out in the payments bank license issued to it.
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