RBI has cancelled the banking licence of Paytm Payments Bank Limited on April 24, 2026, under Section 22(4) of the Banking Regulation Act. The bank is prohibited from carrying out banking activities and the RBI will initiate winding-up proceedings before the High Court. The action was taken on multiple grounds, including that the bank’s affairs were conducted in a manner detrimental to depositors, its management was prejudicial to public interest, and it failed to comply with licensing conditions. Separately, One 97 Communications Limited clarified that it has no financial exposure or operational dependency on the bank, and its services continue unaffected.