Finance
Big GuyRBI Gives Paytm Payments Bank the Boot, Oopsie Daisy!
So, listen up! The Reserve Bank of India just gave Paytm Payments Bank a big ol' boot! They said Vijay Shekhar Sharma and his gang were causing some serious trouble for depositors. Starting April 24, 2026, they can't do any banking magic anymore. But hey, at least they can pay everyone back, so it's not all doom and gloom, right?
few days ago | Manojit Saha, Subrata Panda, Ajinkya Kawale
Quick rundown
1.RBI cancels Paytm Payments Bank's licence.
2.Paytm founder's conduct deemed detrimental.
3.Bank barred from new customers since 2022.
4.Paytm Payments Bank has enough liquidity for deposits.
5.Only six payments banks operational in India now.
