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The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL), marking the final stage in the lender’s closure process after the Reserve Bank of India (RBI) revoked its banking licence over persistent regulatory violations.
In a statement issued on Tuesday, the RBI said the Delhi High Court, through orders dated July 8 and July 22, 2026, directed the winding up of PPBL under the provisions of the Banking Regulation Act, 1949, read with the Companies Act, 2013.
The court has appointed Girikumar M Nair, former Chief General Manager of State Bank of India, as the Official Liquidator of Paytm Payments Bank.
According to the RBI, the Official Liquidator will exercise all powers prescribed under the Banking Regulation Act and the applicable provisions of the Companies Act.
The central bank said the Official Liquidator has also been exercising all the powers of the bank’s Board of Directors with effect from July 8, 2026.
The winding-up order follows the RBI’s April 2026 decision to cancel Paytm Payments Bank’s banking licence after finding persistent non-compliance with regulatory requirements.
At the time, the central bank said the bank was operating in a manner detrimental to the interests of its depositors and announced plans to approach the Delhi High Court to initiate winding-up proceedings.
With the High Court’s order now in place, the closure of Paytm Payments Bank enters its final legal phase under the Banking Regulation Act and the Companies Act.
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