The High Court of Delhi has ordered that Paytm Payments Bank Limited (PPBL) be wound up, the Reserve Bank said on Tuesday. RBI's Initial Action and Rationale In April this year, the Reserve Bank of India (RBI) had cancelled the banking licence issued to PPBL for non-compliance with norms, saying the affairs of the bank were conducted in a manner detrimental to the interest of its depositors. The central bank also announced it would be making an application for winding up of the bank before the High Court.