Subsidiary25 Apr 2026, 08:11 pm
Paytm Payments Bank to Voluntarily Wind Up Operations
AI Summary
One 97 Communications Ltd (Paytm) announced that Paytm Payments Bank Limited (PPBL), an associate company, will voluntarily wind up its operations following the cancellation of its banking license by the Reserve Bank of India (RBI). The decision was approved by PPBL's Board of Directors and Shareholders on April 25, 2026. Paytm assures that the winding-up of PPBL will not have a material impact on its business, operations, or financial condition. Paytm continues to operate independently, offering services like the Paytm app, UPI, Gold, and other services through its subsidiaries.
Key Highlights
- Paytm Payments Bank Limited (PPBL) will voluntarily wind up operations following RBI instructions.
- PPBL's banking license was cancelled by the Reserve Bank of India (RBI).
- Paytm states the winding-up of PPBL will not materially impact its business.
- PPBL will cease to be an associate company of Paytm after the winding-up order.
- Paytm continues to operate its services independently and without interruption.