A few months after the Reserve Bank of India canceled its license, the Delhi High Court has now ordered the complete closure of Paytm Payments Bank Limited. RBI informed about this legal decision on Tuesday. The High Court has appointed former Chief General Manager of SBI Girikumar M Nair as the official liquidator of Paytm Payments Bank. Nair is exercising all powers of the bank’s board from July 8, 2026. What was said in the order of Delhi High Court? RBI said in the statement that the Delhi High Court has issued this instruction along with the order dated 8 July 2026 and the order dated 22 July 2026. This action has been taken under the provisions of the Banking Regulation Act, 1949 and the Companies Act, 2013. The court has asked the liquidator to use all the rights prescribed under the Banking and Companies Act. The bank’s license was canceled in April 2026. RBI had canceled the banking license of Paytm Payments Bank in April 2026 due to continuous non-compliance of rules. At that time RBI had said that the functioning of the bank was being run against the interests of the depositors. Along with canceling the license, RBI had made it clear that it will approach the Delhi High Court to get the bank closed. When was action taken against Paytm Bank? Paytm Payments Bank, a subsidiary of Vijay Shekhar Sharma-led fintech company Paytm, had to face strict rules several times in the last few years… Also read this news… Infosys fined Rs 2 crore in France: Accused of not keeping correct records of working hours, there is a rule of 35 hours of work in a week. Labor authorities of France have imposed a fine of 1.75 lakh euros i.e. about Rs 2 crore on Infosys. The company’s system for recording employees’ working hours was found not to meet legal requirements. This fine has been imposed by France’s regional labor authority DRIEETS Île-de-France. Infosys has given information about this matter in its stock exchange filing. Read the full news…
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Delhi High Court orders closure of Paytm-Payments-Bank: RBI informed, banking license was canceled for violation of rules
