Times of India | RBI scraps licence of Paytm Payments Bank AI generated summary, Read the full article for complete information. The Reserve Bank of India abruptly revoked Paytm Payments Bank’s banking licence on Friday, ordering its immediate winding‑up in the High Court. RBI said the bank’s affairs were “detrimental to the interest of the bank and its depositors,” citing a management style “prejudicial to depositors and the public interest” and repeated failure to meet licence conditions. Although the bank has sufficient liquidity to repay all deposits, it has been operating as a runoff entity since 2022 after successive bans on new customers, deposits, credits, and wallet top‑ups. RBI is directing the bank’s winding‑up while allowing UPI transactions to continue through partner banks (Axis, Yes, SBI) and noting that the wallet business and debit‑card operations will gradually be phased out. The move is expected to heighten regulatory scrutiny on Paytm’s parent, One97 Communications, and may affect any current or future licences held by its group entities. Read more: https://timesofindia.indiatimes.com/business/india-business/rbi-scraps-licence-of-paytm-payments-bank/articleshow/130507245.cms #RBI #One97Communications #AxisBank #YesBank AI generated summary, Read the full article for complete information.