Paytm Payments Bank Story Comes to an End

Paytm Payments Bank (PPBL) is set to shut down after the Delhi High Court ordered its closure, according to the Reserve Bank of India (RBI). The bank had already lost its banking licence after the RBI cited regulatory violations and concerns that its operations were not in the best interests of depositors.

With the High Court's direction, PPBL will cease operations. Paytm Payments Bank is a subsidiary of fintech company Paytm, and the latest development marks the final step in the bank's closure following regulatory action.