Paytm Payments Bank Ordered for Winding Up by Delhi HC
Delhi High Court orders Paytm Payments Bank (PPBL) closure over regulatory non-compliance. RBI supports.
Paytm Payments Bank Ordered for Winding Up by Delhi HC
The Delhi High Court has ordered the winding up of Paytm Payments Bank (PPBL), following a petition from the Reserve Bank of India (RBI). The court found PPBL in violation of regulations and appointed Nair as the official liquidator. This decision comes after RBI supported the closure, citing non-compliance with central bank guidelines.