Delhi HC orders Paytm Payments Bank wound up; former SBI executive named liquidator
The Delhi High Court has ordered the winding up of Paytm Payments Bank after the RBI cancelled its licence over persistent regulatory and governance lapses. Former SBI CGM Girikumar M. Nair has been appointed official liquidator, taking over the board’s powers.
What happened
Delhi High Court ordered Paytm Payments Bank wound up after RBI cancelled its licence over persistent regulatory and governance violations. Former SBI CGM
Key facts
- July 8, 2026
- July 22, 2026
- April 24, 2026
- March 2022
- January-February 2024
Why this matters
Paytm may need to deepen external banking partnerships or pursue compliant financial-services alliances to replace infrastructure lost through the bank’s wind-up.
What to watch
- Liquidator's first public notice, inventory of assets and liabilities, and deadline for creditor or depositor claims.
- Any RBI statement on customer-fund protection, payout mechanics, residual payment operations or enforcement follow-ons.
- Disclosure by One97 Communications of provisions, guarantees, receivables, exceptional costs, or changed related-party exposure to Paytm Payments Bank.
- Changes in Paytm merchant retention, UPI transaction share, payment processing revenue, customer acquisition costs and partner-bank concentration.
- Litigation, forensic-audit findings, employee claims, tax demands or creditor disputes that materially extend the liquidation.
- Announcements of new bank partnerships or migration completion for wallets, FASTag and merchant settlement products.
- The official liquidator assumes Paytm Payments Bank board powers, secures books, systems, customer records and assets, and publishes a claims and repayment process.
- RBI and the liquidator clarify treatment and timelines for deposits, wallet-linked balances, merchant settlement funds, FASTag balances, and unclaimed accounts.
- One97 Communications expands or renegotiates bank partnerships for UPI handles, merchant acquiring, escrow, nodal accounts and payment settlement.
- Paytm increases customer communication and migration incentives to limit wallet, FASTag, merchant and high-frequency user attrition.
- Creditors, vendors and counterparties review contractual exposures and may seek settlement, security release or claim registration.