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RBI revokes Paytm Payments Bank’s banking licence, will move High Court for winding up

RBI revokes Paytm Payments Bank’s banking licence, will move High Court for winding up
RBI revokes Paytm Payments Bank’s banking licence, will move High Court for winding upThe Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank Limited, effective April 24. The central bank cited violations of the Banking Regulation Act, including mismanagement and failure to protect depositor interests. The RBI will initiate winding-up proceedings, assuring depositors of full repayment.

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