Paytm distances itself from Payments Bank after RBI cancels PPBL’s banking licence
The Hindu·6h ago·Neutral
What Happened
Paytm distanced itself from Paytm Payments Bank Ltd after the Reserve Bank of India cancelled its banking licence. The company stated it has no exposure or material business arrangements with PPBL, as previously disclosed March 1, 2024. Paytm clarified no services operate in partnership with the payments bank.
Key Entities
PaytmOne 97 Communications LimitedPaytm Payments Bank Ltd (PPBL)Reserve Bank of India (RBI)