paytm payments bank

RBI Orders Winding Up of Paytm Payments Bank, Appoints Liquidator

The Reserve Bank of India has ordered the winding up of Paytm Payments Bank Limited and appointed Girikumar Nair, former Chief General Manager of SBI, as the Official Liquidator. The move follows the Delhi High Court's approval under the Banking Regulation Act and Companies Act, after the RBI earlier cancelled the bank's licence citing serious regulatory violations.