Paytm Payments Bank Order: Following the RBI’s action, the Delhi High Court has taken action against Paytm and ordered the closure of Paytm Payments Bank Limited (PPBL). This means that customers will no longer be able to use PPBL. Many users are now wondering what will happen to the funds deposited in their bank accounts or wallets.
Court Orders Paytm Bank Shutdown: If you also use Paytm Payments Bank, then this news is very useful for you. Actually, recently the Delhi High Court has taken an important decision, which has come as a big shock to the customers. Following the action of RBI, the Delhi High Court has taken action against Paytm and has ordered the closure of Paytm Payments Bank Limited (PPBL). This means that now customers will not be able to use PPBL. Now in such a situation, the question in the mind of many users is what will happen to the amount deposited in their bank account or wallet. Will they get this amount back or not.
High Court orders closure of PPBL
The RBI stated on Tuesday that the Delhi High Court had issued an order under the Banking Regulation Act on July 8, 2026, ordering the complete closure of Paytm Payments Bank. The High Court further stated that the High Court has appointed Girikumar M. Nair, former Chief General Manager (CGM) of the State Bank of India (SBI), as the official liquidator of Paytm Payments Bank.
Will the deposit amount be received in the bank or wallet?
Following the closure of Paytm Payments Bank, people are wondering if their deposits will be refunded. Furthermore, they are also raising questions about security. According to reports, an Official Liquidator has been appointed to ensure that customers with money deposited in the bank or wallet can receive their money safely.
What will happen to the amount deposited in Wallet and Fastag?
It should be noted that the RBI issued an order in January and February 2024, stating that no user should add new money to their wallets and FASTags. The RBI imposed a complete ban on this. However, if you have any remaining funds in your Paytm Payments Bank account or wallet, they can be recovered through the liquidation process.
Will Paytm UPI work or stop?
Paytm users need not worry about this action against Paytm Payments Bank. The Paytm app and its UPI services will continue to function as usual. Paytm’s parent company now operates its UPI service in collaboration with other banks such as State Bank, HDFC, Axis, and ICICI. Therefore, third-party UPI payments will not be affected.