RBI Cancels Paytm Payments Bank Licence:
The Reserve Bank of India (RBI) has cancelled the banking licence of the Paytm Payments Bank Limited and effectively ended the its ability to operate as a bank. This decision is comes after the years of regulatory concerns and the repeated non-compliance. The central bank has also announced that it will approach the High Court to wind-up the proceedings. This development marks the turning point for the country’s fintech ecosystem and also raises key questions about regulatory discipline.
