Paytm Payments Bank shut down by RBI: Reasons behind the move and what users should know
The Reserve Bank of India (RBI) has revoked the banking licence of Paytm Payments Bank Limited, effectively bringing its operations as a bank to an end. The decision came into effect from the close of business on April 24, 2026, under Section 22(4) of the Banking Regulation Act, 1949. The central bank stated that the…
