New Delhi, 28 July (H.S.): The Delhi High Court has taken strict action in the matter of Paytm Payments Bank Limited (PPBL), ordering the closure of the bank. The court has directed that the official liquidator will exercise the powers of the bank’s board with effect from July 8. The court has also appointed Girikumar Nair as the official liquidator.

The Reserve Bank of India (RBI), in a statement issued on Tuesday, said that the High Court, acting on the central bank’s request, ordered the winding up of Paytm Payments Bank and handed over the responsibility of its operations to the official liquidator.

The RBI stated that under the Delhi High Court’s order dated July 8, 2026, along with the subsequent order issued on July 22, 2026, Paytm Payments Bank Limited has been directed to be wound up under the provisions of the Banking Regulation Act, 1949, and the Companies Act, 2013.

According to the RBI, the court has appointed Girikumar M. Nair, former Chief General Manager of the State Bank of India (SBI), as the official liquidator. He has been vested with all the powers of the bank’s board from July 8, 2026.

The Reserve Bank had cancelled the banking licence of Paytm Payments Bank Limited with effect from April 24, 2026, under Section 22(4) of the Banking Regulation Act. The Delhi High Court’s order to wind up the bank comes a few months after the RBI revoked its licence over regulatory violations.

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Hindusthan Samachar / Jun Sarkar