Blitz Bureau
NEW DELHI: The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL), months after the Reserve Bank of India (RBI) revoked the bank’s licence over persistent regulatory violations, marking the final step in the lender’s closure process.
In a statement, the RBI said the High Court, through orders dated July 8 and July 22, 2026, directed that PPBL be wound up under the provisions of the Banking Regulation Act, 1949, read with the Companies Act, 2013.
“By an Order dated July 08, 2026 read with the Order dated July 22, 2026, the High Court of Delhi has ordered that PPBL be wound-up under the provisions of the Banking Regulation Act, 1949 read with the provisions of Companies Act, 2013,” the central bank stated.
The court has appointed Girikumar Nair, former Chief General Manager of State Bank of India, as the Official Liquidator of Paytm Payments Bank.
The RBI said the Official Liquidator has been authorised to exercise all powers prescribed under the Banking Regulation Act as well as the applicable provisions of the Companies Act.
According to the central bank, the Official Liquidator has been exercising all the powers of the bank’s board of directors with effect from July 8, 2026.
“The High Court appointed Girikumar M Nair as the Official Liquidator of PPBL. As per the said order, the Official Liquidator shall exercise all the powers prescribed under the provisions of the Banking Regulation Act, 1949 along with applicable provisions of the Companies Act, 2013,” RBI said.
