The RBI has cancelled the banking licence of Paytm Payments Bank Ltd (PPBL), effective April 24, 2026. The regulatory action was taken due to persistent non-compliance and material supervisory concerns within the bank.
The RBI has cancelled the banking licence of Paytm Payments Bank Ltd (PPBL), effective April 24, 2026. The regulatory action was taken due to persistent non-compliance and material supervisory concerns within the bank.
Paytm has introduced biometric authentication for UPI and cardless Automated Teller Machine (ATM) withdrawals to enhance security. These features align with the RBI guidelines for two factor authentication (2FA).
Biometric payments are capped at ₹5,000 per transaction as per the National Payments Corporation of India (NPCI) guidelines. The cardless withdrawal feature allows users to withdraw cash from ATMs without a physical card, with a maximum limit of ₹10,000 per transaction.