PAYTM — Delhi High Court orders liquidation of Paytm Payments Bank, appoints liquidator

The Delhi High Court has mandated the winding up of Paytm Payments Bank Ltd (PPBL) and appointed a liquidator to oversee the process. The court appointed former State Bank of India executive Girikumar M Nair as the official liquidator, effective July 8. This decision follows the Reserve Bank of India's cancellation of PPBL's banking license in April, bringing parent company One 97 Communications' banking venture to a close.