Economy
Delhi High Court Orders Winding Up of Paytm Payments Bank
Deccan Herald1h
THE BRIEF
1
The Delhi High Court ordered the winding up of Paytm Payments Bank Limited (PPBL) following an application by the Reserve Bank of India (RBI) due to non-compliance with norms.
2
The court appointed Girikumar M Nair, a former CGM of the State Bank of India, as the official liquidator, granting him board powers effective from July 8, 2026.
3
The RBI had previously cancelled the bank's license in April 2026, citing affairs conducted in a manner detrimental to the interests of depositors and systemic supervisory concerns.