The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL), completing the final stage of the bank’s closure after the Reserve Bank of India (RBI) revoked its licence over repeated regulatory violations.
The court, through orders issued on July 8 and July 22, 2026, directed the bank’s liquidation under the Banking Regulation Act, 1949, and the Companies Act, 2013. It also appointed former State Bank of India Chief General Manager Girikumar M. Nair as the Official Liquidator.
Nair has been given the authority to manage the liquidation process and has exercised all powers of the bank’s board since July 8, 2026.
The RBI had cancelled PPBL’s banking licence in April 2026, citing persistent non-compliance with regulations and concerns that the bank’s operations were not in the best interests of its depositors.