The RBI has cancelled Paytm Payments Bank’s licence effective April 24, 2026, citing regulatory violations and governance concerns. Customer deposits remain safe under a court-supervised winding-up process. Wallet users must withdraw balances, while FASTag users should switch banks. Paytm app services like UPI, QR payments and recharges will continue unaffected.
After years of mounting regulatory pressure, India's central bank has drawn the final curtain on Paytm Payments Bank. On Friday, April 24, 2026, the Reserve Bank of India delivered the final verdict on Paytm Payments Bank Limited (PPBL), its banking licence has been cancelled, effective from the close of business that same day.
For millions of customers who have used the platform for savings accounts, digital wallets, FASTag recharges, and daily payments, the immediate question is, what happens now?
Is your money safe? What should customers do now?
Here is what existing PPBL customers should keep in mind:
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