Paytm on Saturday said Paytm Payments Bank Limited (PPBL) will be wound up after the Reserve Bank of India (RBI) cancelled the bank’s licence with effect from April 24, 2026.
“Its Board of Directors and Shareholders have, at their respective meetings held on April 25, 2026, approved necessary resolutions to enable the winding-up of PPBL, as instructed by the RBI, or voluntarily with the permission of RBI,” One 97 Communications Limited said in its exchange filing.
In a regulatory filing, listed parent One 97 Communications said PPBL’s board and shareholders approved resolutions on April 25 to enable the winding-up of the payments bank, either as directed by the RBI or voluntarily with the regulator’s permission .
Following the winding-up order becoming effective, PPBL will cease to be an associate company of One 97 Communications under the Companies Act and applicable Securities and Exchange Board of India (SEBI) regulations, the company said .
One 97 Communications sought to reassure investors that the development will not materially impact its business, operations or financial position. “The company does not have any exposure to PPBL or any material business arrangements with PPBL,” it said, adding that its consumer and merchant offerings continue to operate without interruption .
Services including the Paytm app, Paytm UPI, Paytm Gold and merchant products such as Paytm QR, Soundbox, card machines, payment gateway and Paytm Money will continue to function as usual, the company said .
The filing also noted that PPBL did not contribute any turnover, revenue or net worth to One 97 Communications in the last financial year. The timeline and any consideration from the winding-up process are not determinable at this stage and will depend on regulatory and legal proceedings
