RBI to Wind Up Paytm Payments Bank; Girikumar Nair Appointed Official Liquidator

Key facts

• The Delhi High Court ordered the winding up of Paytm Payments Bank Limited (PPBL) and appointed former State Bank of India (SBI) Chief General Manager Girikumar M Nair as the Official Liquidator.
• The Reserve Bank of India (RBI) had made an application under Sections 38 and 39 of the Banking Regulation Act, 1949 seeking the winding up of PPBL.
• The High Court's orders were dated July 8, 2026 and July 22, 2026, directing the winding up under the Banking Regulation Act read with the Companies Act, 2013.
• The RBI had cancelled the banking licence of PPBL on April 24, 2026 under Section 22(4) of the Banking Regulation Act, citing serious regulatory violations and conduct detrimental to depositors' interests.
• The RBI clarified that PPBL had sufficient liquidity to repay its entire deposit liabilities, and the liquidation process will proceed under the Official Liquidator's supervision.