RBI cancels Paytm Payments Bank licence but Paytm app still works for users

Deposits stop, but UPI and wallet access remain largely intact

The RBI has cancelled the banking licence of Paytm Payments Bank due to ongoing compliance issues. The bank can no longer accept deposits, but the Paytm app and core services are reported to remain unaffected. For users, this means you may still be able to use UPI and other payment features, even as the payments bank’s banking operations end.