25 April,2026 10:38 AM IST | Mumbai | mid-day online correspondent
Representational image. File pic
Paytm's parent company, One 97 Communications Ltd, on Saturday morning issued a clarification that the recent regulatory action on Paytm Payments Bank Ltd has no financial or operational impact on its business.
While posting on social media platform X, the company emphasised that it has no exposure to PPBL and does not maintain any material business arrangements with the payments bank. It further stated that no services offered by Paytm are provided in partnership with PPBL.
One 97 Communications also highlighted that PPBL functions independently, with no involvement from Paytm's board or management. The statement further noted, "PPBL operates independently, with no board or management involvement from Paytm. This matter relates solely to PPBL and should not be attributed to Paytm."
Reassuring its users and stakeholders, Paytm confirmed that all its services continue to operate without disruption. These include the Paytm app, UPI services, Paytm Gold, Paytm QR, Soundbox, card machines, payment gateway, and investment platform Paytm Money, along with other offerings by its subsidiaries and associate companies.
The clarification from the online payment platform and fintech giant comes amid concerns following regulatory scrutiny of PPBL.
The RBI on Friday, April 25, announced the cancellation of the banking licence issued to Paytm Payments Bank for non-compliance with norms, saying the affairs of the bank were conducted in a manner detrimental to the interest of its depositors.
The Reserve Bank of India (RBI) will make an application for the winding up of the bank before the High Court.
As reported by news agency PTI, the bank failed to comply with the conditions stipulated in the Payments Bank licence issued to it, the central bank said.
One97 Communications, which owns the Paytm brand, in its company filing said the company has no exposure to Paytm Payments Bank (PPBL) as it had already impaired its investment in the beleaguered entity as of March 31, 2024.
PPBL, an associate firm of Vijay Shekhar Sharma-promoted fintech firm Paytm, came under the regulatory scanner on multiple occasions earlier, including in March 2022 when the central bank barred it from onboarding new customers.
The licence was cancelled effective from the close of business hours on Friday, the Reserve Bank of India (RBI) said, adding that Paytm Payments Bank has enough liquidity to repay its entire deposit liability upon winding up.
