The RBI cancelled the banking licence of Paytm Payments Bank Ltd with effect from 24 April 2026 under which law?
- ASection 22(4) of the Banking Regulation Act, 1949
- BSection 35A of the Banking Regulation Act, 1949
- CSection 45 of the RBI Act, 1934
- DThe Payment and Settlement Systems Act, 2007
Show answer and explanation
Correct answer: (a) Section 22(4) of the Banking Regulation Act, 1949
Explanation
The licence was cancelled under Section 22(4) of the Banking Regulation Act, 1949.