India's central bank cancels Paytm Payments Bank's banking license, after imposing business curbs over non-compliance with rules in January 2024

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TLDR

  • India’s Reserve Bank cancelled Paytm Payments Bank’s banking licence, more than two years after first imposing business restrictions.

Key Facts

  • The Reserve Bank of India cancelled the banking licence issued to Paytm Payments Bank Limited.
  • Business curbs were first imposed in January 2024 over non-compliance with regulations.
  • The licence cancellation came more than two years after those initial restrictions.

Why It Matters

  • The cancellation marks a formal end to Paytm Payments Bank’s ability to operate as a licensed bank in India.
  • The action follows a prolonged regulatory process that began with compliance failures identified in early 2024.

Gopika Gopakumar / Reuters · 2026-04-24 · Read the original