Seeking stakeholder opinions on steps to speed up last-mile digital connectivity and enhance broadband access, the Telecom Regulatory Authority of India (TRAI) issued a consultation document on Monday regarding the expansion of public Wi-Fi networks nationwide.

Despite the fact that data use is increasing rapidly, the report examines the current regulatory landscape and identifies major barriers limiting the rollout of public Wi-Fi, especially in rural and underserved regions.

It evaluates the present state of public Wi-Fi deployment, including infrastructure deficits and demand trends, while also analyzing international deployment models and global best practices to identify insights for India.

Clearly establishing the roles of stakeholders, such as the central and state governments, local organizations, telecom service providers (TSPs), internet service providers (ISPs), and private players, is a key component of the consultation, particularly for rollout in rural areas, cities, and busy public spaces, in order to create feasible and scalable models.

The regulator has also asked for opinions on important operational topics, including billing structures, authorization standards, user authentication methods, and smooth network roaming. These are all areas that are thought to be crucial to enhancing user experience and network interoperability.

Furthermore, the TRAI has emphasized the necessity of sustainable business models and has requested feedback on both direct and indirect revenue streams in order to guarantee the long-term viability of public Wi-Fi infrastructure.

At a time when public Wi-Fi is increasingly being viewed as a crucial facilitator of inexpensive internet access and digital inclusion, complementing mobile broadband networks, the consultation paper arrives.

Stakeholders have until May 25 to submit written feedback to the TRAI, and June 8 to submit counter-comments. The regulator’s official website has the article.

The telecom industry’s expansion was emphasized by the TRAI earlier this month. Due to significant user mobility and market competition, there were as many as 14. 63 million requests for Mobile Number Portability (MNP) in March 2026.

With 1,282. 33 million wireless subscribers, the majority of India’s 1,330. 58 million total telephone subscribers were wireless users.

The number of broadband users, on the other hand, totaled 1,065. 88 million.

With 778. 79 million customers, urban areas still held the majority of subscribers, while rural areas had 551. 79 million.

With urban tele-density at 151. 47% vs 60. 46% in rural areas, overall tele-density (M2M cellular mobile connections) was 93. 26%.

The newly signed India-New Zealand Free Trade Agreement (FTA) will unlock a wide range of possibilities in important sectors of society, from farmers and small firms to startups and students, Prime Minister Narendra Modi said on Monday, calling it a revolutionary move for inclusive growth.

According to a tweet from Prime Minister Modi on the social media platform X, the agreement is a “landmark moment” in bilateral relations, demonstrating strong trust, shared values, and expanding aspirations between the two countries.

He emphasized that the agreement’s goal is to boost trade, empower various segments of society, and hasten India’s path toward progress.

“Today is a historic day for the cooperation between India and New Zealand. Today’s signing of the India-New Zealand FTA will give our development partnership a boost like never before, and I am thrilled about it,” Prime Minister Modi said.

The Prime Minister said, “It mirrors the profound faith, shared ideals, and aspirations that unite our two countries. ”

He also emphasized New Zealand’s $20 billion investment pledge, pointing out that it will improve collaboration in agriculture, manufacturing, innovation, and technology, laying the groundwork for a more vibrant economic partnership.

Prime Minister Modi stated, “This agreement will be very beneficial for our farmers, youth, women, MSMEs, artists, entrepreneurs, students, and innovators. ”

“It will open new avenues for growth, create opportunities, and deepen our synergy across sectors,” he said.

Similarly upbeat, New Zealand Prime Minister Christopher Luxon referred to the agreement as a “historic milestone” that heralds a new era in relations between the two nations.

Luxon stated that the discussions started only 13 months ago, after his trip to India, and praised the ministers and officials of both nations for coming to a thorough understanding so quickly.

“India is one of the world’s largest and fastest-growing economies, but our trade relationship has only begun to scratch the surface of its potential. Prime Minister Modi and I were able to see that an FTA would represent a huge potential for our two nations, he said.

As the indigenously created 500 MWe Prototype Fast Breeder Reactor (PFBR) at Kalpakkam in Tamil Nadu reached first criticality on April 6, India is now prepared to be the second nation, after Russia, to run a commercial-scale fast breeder reactor, according to Union Minister Jitendra Singh on Monday.

The minister said this reactor, which was created by the Indira Gandhi Centre for Atomic Research (IGCAR) and constructed by BHAVINI, represents the beginning of the second phase of India’s three-stage nuclear power program.

It uses uranium-plutonium mixed oxide fuel to generate more fuel than it uses. This was stated to a workshop of legislators and members of the legislative assembly on Small Modular Reactors.

In the third phase of its nuclear plan, India is getting closer to using its enormous thorium deposits thanks to this accomplishment.

India will be the second nation in the world, after Russia, to have a commercial-scale fast breeder reactor in operation, he said.

The importance of this accomplishment, according to Dr. Singh, is that it advances India to the third phase of its nuclear plan, which is focused on utilizing its enormous thorium resources.

With India in the latter phases of building its own, Russia is now the only nation that runs commercial fast breeder reactors (FBRs). Most of these programs, particularly those in the US, the UK, France, Japan, Germany, and China, are currently closed, even though numerous countries have historically built or run experimental fast reactors.

With reference to recent progress in India’s three-stage nuclear program, Dr. Singh stated that the Prototype Fast Breeder Reactor’s successful installation represents a major advance toward the second stage of the program, allowing for more effective nuclear fuel utilization and opening the door for potential use of India’s enormous thorium resources in the future.

The Minister went on to say that nuclear energy would be essential to India’s transition to clean energy and long-term sustainability objectives, especially in reaching the objective of 100 GW of nuclear power capacity by 2047.

Singh emphasized the growing demand for trustworthy and uninterrupted sources of clean energy in industries like data infrastructure, artificial intelligence, and advanced manufacturing, where nuclear power will be essential.

The minister also emphasized the need for programs that promote private sector involvement in increasing India’s nuclear energy capacity, such as the SHANTI Act, policy support, and Small Modular Reactors (SMRs). He stated that the recently established Nuclear Mission, which has a budget of Rs 20,000 crore, intends to build five SMRs by 2033.

In addition, the minister said that SMRs will be helpful for captive power production, especially in industry, densely populated areas, distant communities without grid connections, thermal plant repurposing, and more.

He said that reaching the objective of Net Zero by 2070 would depend on having a balanced energy mix that includes nuclear, renewable, and other clean energy sources.

In a one-sided encounter in the Indian Premier League (IPL) 2026 at the Arun Jaitley Stadium in New Delhi on Monday, defending champions Royal Challengers Bengaluru defeated Delhi Capitals by nine wickets thanks to Bhuvneshwar Kumar and Josh Hazlewood‘s scorching spells.

The home team was bowled out for just 75 by the right-arm pace combo’s devastating new-ball spell, before Devdutt Padikkal and Virat Kohli scored 34 and 23 not out, respectively, to complete the chase with 81 balls to spare, securing a victory that was both convincing and quick.

Hazlewood and Bhuvneshwar teamed up to take six wickets in the first four overs, generating incredible movement and bounce off the ground, which was more similar to a Test match than an IPL match, and made sure DC was outed for the season’s lowest total.

DC had no response to Hazlewood’s (4-12) and Bhuvneshwar’s (3-5) outside edges, and the batters were constantly pounded. As no other DC batter scored above 20 and fell like ninepins, Impact Player Abishek Porel’s 30 off 33 was the only positive in an otherwise terrible batting performance.

According to CricViz, DC is only the second club in IPL history to lose six wickets during the powerplay in a game that was not shortened by rain. The only prior incident occurred in IPL 2011, when the Kochi Tuskers Kerala lost to the Deccan Chargers with a score of 29/6. Both of these events occurred on the same day, April 27, by chance.

When Bhuvneshwar Kumar’s probing away-swinging delivery enticed an edge off debutante Sahil Parakh and rolled harmlessly to short third man, not many people anticipated havoc coming to DC. However, on the very next delivery, Bhuvneshwar unleashed a deadly accurate yorker from over the wicket, which swung in late and narrowly missed Parakh’s bat, resulting in a two-ball duck for the batsman.

With two massive hits in as many pitches, Hazlewood increased the pace of the slaughter. Sameer Rizvi, who made his debut, was lured into chasing one around the off-stump, and the keeper caught the outside edge of a wide drive. Meanwhile, KL Rahul was physically constrained by a harsh short ball that gave him no room to pull, and the top edge landed securely in Jitesh Sharma’s gloves.

By striking Hazlewood’s hat-trick delivery for four, Tristan Stubbs briefly raised DC’s spirits. However, the respite was brief since Bhuvneshwar, relentless and precise, discovered Stubbs’ outside edge with yet another late swing delivery, which first slip securely pouched. With Jitesh making another catch, he next pulled out the outside edge of captain Axar Patel.

Hazlewood then finished DC’s agony by bowling a quick short ball that confused Nitish Rana, and the gully caught an ugly glove edge, bringing DC to 9/6 in four overs and leaving them in ruins. The fact that Hazlewood and Bhuvneshwar were the first pair of bowlers in IPL history to each take three wickets during the power play in the same game demonstrated how utterly they destroyed DC.

Delhi’s 13/6 became the new mark for the lowest powerplay score in IPL history when the six-over period concluded. Afterward, Abishek Porel and David Miller struck back by stealing boundaries off Romario Shepherd and Rasikh Salam Dar in order to make a little comeback.

However, Rasikh broke the short 35-run standoff in 31 balls when Miller, trying to lift a fast short ball across the line, toed it to an appreciative Jitesh. In the midst of a mild dust storm swirling around the ground, Kyle Jamieson saved DC from the further disgrace of having the lowest total in IPL history by expertly pulling Shepherd over mid-wicket for six to bring them to their fifty in 10. 2 overs.

Krunal Pandya ended Jamieson’s defiance with a nice length delivery that landed on the off-stump and caught him plumb lbw, even as Suyash Sharma harassed Porel. Hazlewood aptly brought an end to DC’s misery by hitting Porel’s middle stump with a flawless yorker, which occurred after Suyash bowled Kuldeep Yadav with a devastating leg-break.

With Impact Player Jacob Bethell flicking him for four, Virat Kohli, who was surrounded by the familiar chants of Kohli, Kohli around the ground, got off the mark by lofting Dushmantha Chameera down the ground for a wonderful boundary, beginning RCB’s chase of a paltry 76.

Bethell then switched gears with amazing speed, slamming Jamieson for a pair of sixes over the mid-wicket boundary, one of which was a massive 104-meter shot. To his credit, Jamieson retaliated when Bethell mistimed a loft, and in what was the catch of the night, T Natarajan, sprinting back from mid-on, bowled him out for a fantastic 20 off 11 balls by taking it cleanly over his shoulder and without hitting the rope.

Devdutt Padikkal started by hitting Chameera over long-off for six, and then he blasted Jamieson over the square-leg boundary for another maximum as RCB doubled DC’s power-play score in three overs. Padikkal scored RCB’s fifty in 4. 3 overs with a one-legged pulled four through mid-wicket, before carting him through fine leg for another boundary, and then produced the shot of the night, giving himself room to loft over mid-off for six.

Following the conclusion of the Power-play with RCB at 65/1, Kohli completed the simple chase in style, sending Natarajan six over the ground before going on the backfoot and pulling the ball over deep mid-wicket for another maximum to secure a resounding victory for the defending champions.

Brief scores:
Delhi Capitals 75 all out in 16.3 overs (Abishek Porel 30, David Miller 19; Josh Hazlewood 4-12, Bhuvneshwar Kumar 3-5)
Royal Challengers Bengaluru 77/1 in 6.3 overs (Devdutt Padikkal 34 not out, Virat Kohli 23 not out; Kyle Jamieson 1-42)

NITI Aayog has established itself as a key pillar of India’s policymaking framework, promoting cooperative federalism, advancing reforms, and improving ‘Ease of Living,’ Prime Minister Narendra Modi said on Saturday.

Prime Minister said in his message congratulating Ashok Kumar Lahiri on becoming the Vice Chairman and other full-time members that it is a vibrant forum for long-term strategic thinking and innovation across industries.

The government has restructured the NITI Aayog. Congratulations to Ashok Kumar Lahiri on his appointment as Vice Chairman.

In a message on social media platform X, Prime Minister Modi stated, “I also want to congratulate Rajiv Gauba, Prof. K. V. Raju, Prof. Gobardhan Das, Prof. Abhay Karandikar, and Dr. M. Srinivas for joining the NITI Aayog as Full Time Members. ”

“I wish them all a productive and impactful term ahead,” the Prime Minister continued.

Prime Minister Modi felicitated Lahiri upon his appointment as Vice Chairman of NITI Aayog.

“His extensive expertise in economics and public policy will advance India’s reforms and progress toward becoming a ‘Viksit Bharat. I am certain that his initiatives will further increase the dynamism of policymaking in our nation. The prime minister added, “I send him my best wishes for a successful term.”

Lahiri has a notable career in economics and is now the representative for Balurghat in the Bengal Assembly, but he is not running in the present elections.

He has worked at the Delhi School of Economics, the National Institute of Public Finance and Policy, Bandhan Bank, the Asian Development Bank, and served as the 12th Chief Economic Advisor to the Indian government.

His international experience includes stints at the World Bank and the International Monetary Fund. Lahiri, a Presidency University, Kolkata alumnus, is well-known for his scholarly and political contributions.

Chief Minister N. Chandrababu Naidu will lay the cornerstone for the Google AI Data Center in Visakhapatnam on Tuesday, April 28.

Google is reportedly going to invest $15 billion in the initiative, which would be one of the biggest foreign direct investments in Indian history, according to authorities.

With a combined capacity of one gigawatt, the data center will be built on approximately 600 acres in the Tharluwada, Adavivaram, and Rambilli areas.

According to a formal release on Sunday, the AI Data Center is expected to be a turning point for India’s technology industry and usher in a new age for Andhra Pradesh’s technological landscape.

With this cutting-edge infrastructure, Visakhapatnam is set to establish itself as a vital AI gateway for Asia and establish a long-lasting presence in the world of technology. Visakhapatnam city will be placed among the top technology hubs in the world by this prestigious project, it stated.

Visakhapatnam will soon have direct digital connections to a number of nations thanks to the forthcoming subsea cable connectivity system. The data center will have sophisticated AI cloud infrastructure as well as significant data storage capacity.

Due to its proximity to the coast, Visakhapatnam is a perfect location for an international submarine cable landing station.

The project involves partnerships with businesses like Airtel Nxtra and AdaniConneX. According to the statement, the government intends to establish a multi-gigawatt digital center throughout the state with a total capacity of 6. 5 Gigawatts.

Aside from infrastructure, the Google Data Center is anticipated to provide a large number of jobs. In fields like cloud operations, maintenance, cybersecurity, cloud architecture, data science, and artificial intelligence, thousands of jobs are likely to be generated. The state’s economy will be boosted by the income produced by data centers.

The initiative is also anticipated to draw investments in related industries like electricity systems, cooling technology, server manufacturing, and networking, which will aid in the development of a strong AI environment in Andhra Pradesh.

Visakhapatnam is anticipated to become a significant technology center in Asia thanks to Google AI cloud services. The city is also a popular choice for firms that use artificial intelligence. The area is anticipated to house research facilities, IT startups, cloud enterprises, and semiconductor businesses.

Google and other tech businesses have proposed building data centers, and the administration is taking steps to guarantee that they have access to a green energy supply.

The release also stated that the city’s worldwide attractiveness will be enhanced by its world-class infrastructure, such as the forthcoming Bhogapuram International Airport, and by global firms concentrating on Visakhapatnam.

In a nail-biting match in the Indian Premier League (IPL) 2026 at the BRSABV Ekana Stadium in Lucknow on Sunday, the Kolkata Knight Riders defeated the Lucknow Super Giants in a thrilling Super Over, thanks in part to Sunil Narine’s double strike and Rinku Singh’s match-winning boundary, which helped them move up from the bottom of the points standings.

The way for the first Super Over of the current season to take place was set up when the two teams were tied at 155, the 16th such occurrence in the tournament’s history, due to a final-ball six from Mohammed Shami.

Following Nicholas Pooran and Aiden Markram, Rishabh Pant was released by LSG. The ball was given to Narine, and he quickly turned the game in KKR’s advantage.

On the first ball, Pooran was bowled out when he attempted a slog sweep. Markram was defeated by a superb relay catch involving Rovman Powell and Rinku Singh close to the boundary rope after Pant managed a single. As a result, LSG was only able to score one run in its Super Over innings, which was the lowest total in the one-over shootout in an IPL match.

In response, KKR placed its faith in Powell and Rinku to complete the task. Mohsin Khan, who had previously taken a five-for, was replaced by Prince Yadav, who was tasked with protecting four runs.

The KKR victory was sealed when Prince missed the yorker and Rinku opened the bat face and sliced through the square boundary on the off-side from the very first delivery of their chase.

Earlier in the evening, Rinku had a fantastic night, as he had taken four catches in the outfield during regular game time and hit his highest T20 score of 83 not out off 50 balls, including four sixes in the last over, to help LSG past 150. Rinku’s calm and strength guaranteed KKR their second victory of the season as Narine bowled with accuracy despite the pressure.

In the past, KKR hadn’t had things go their way since Mohsin had chosen 5-23, the finest stats of the current campaign, after he had run through the lineup. After that, Rinku came out and rescued KKR from danger with his undefeated 51-ball innings that included seven fours and five sixes, at a strike rate of 162. 75, including 26 runs off Digvesh Rathi in the last over.

Tim Seifert’s innings for KKR started poorly when he chipped to cover off Mohsin, who then bowled Ajinkya Rahane out for 10 after making a mistake to mid-on. On nine, Angkrish Raghuvanshi was controversially ruled out for impeding the field, and shortly after, Rovman Powell left after gloving behind Mohsin, leaving KKR at 31/4 in 6. 1 overs.

Cameron Green attempted a counterattack, hitting three sixes in his 21-ball 34, but Mohsin’s persistent spell accounted for him as well. As KKR seemed set to score poorly, the left-arm pacer finished a five-wicket haul by taking Anukul Roy for a golden duck.

With Ramandeep Singh and Sunil Narine, though, Rinku maintained his ground and stitched brief, undefeated stands of 20 and 62. In the 19th over, he scored his fifty off 42 deliveries with a drive against Mohammed Shami. His acceleration, albeit late, was decisive. In a spectacular demonstration of power hitting, he launched Rathi for four straight sixes—over long-on, deep extra cover, long-on once more, and cow corner—after making it through a review in the last over.

The three-time champions were given a fighting chance to win the game by Rinku’s late surge, which helped KKR break the 150-run barrier—something that seemed impossible when the team was seven down.

After losing Mitchell Marsh early to Vaibhav Arora in the power play while chasing 156, Rishabh Pant and Aiden Markram stabilized the innings with a 57-run partnership. Pant didn’t begin to take more chances until Sunil Narine caught him out at long-off for 42 after a successful review, while Markram’s smooth 31 came to a close with his capture by long-off.

Nicholas Pooran’s poor performance continued when he was easily dismissed by Varun Chakaravarthy, putting LSG in a difficult position.

With aggressive strokeplay, Himmat Singh (19) and Ayush Badoni (24) then resurrected optimism. Rinku had a fantastic night in the field with four catches, but George Linde managed to score a few quick runs before being caught.

The equation called for 17 runs off the last over, which Kartik Tyagi bowled, and the game swung wildly. After he bowled a no-ball, Himmat hit a free hit for four before being taken at deep square-leg.

Prince Yadav only got a bye with eight needed off four balls, leaving Shami on strike. Shami sent the last delivery over the fence at long-off to tie the scores after a dot ball. Since then, Narine and Rinku have been blocking LSG, which is currently at the bottom of the points standings.

Brief scores:
Kolkata Knight Riders 155/7 in 20 overs (Rinku Singh 83 not out, Cameron Green 34; Mohsin Khan 5/23, George Linde 1/18)
Lucknow Super Giants 155/8 in 20 overs (Rishabh Pant 42, Aiden Markram 31; Vaibhav Arora 2-24, Varun Chakaravarthy 2-33)

Super Over: LSG 1/2 lost to KKR 4/0

Mrunal Thakur, an actress, claims that she manifested her collaboration with Varun Dhawan in 2015 and that the actor helped her overcome her fear of dancing.

Mrunal, who is about to share screen time with Varun in the next comedy “Hai Jawani Toh Ishq Hona Hai” in what is a full circle moment for her, wished the actor and said that filming with him felt like home.

Life truly listened, from manifesting in 2015 to sharing the screen in 2026. Happy, happiest birthday to the person who made me feel less afraid to dance and at ease in front of the camera,” Mrunal wrote.

Mrunal wishes she had made “Mr Wow” proud.

“I hope I made you proud HAPPY BIRTHDAY MR WOW P. S. I wished you first, even if it was just one day before hehe,” she finished.

The comment section of Varun’s article elicited a “wow” response.

On May 22, Hai Jawani Toh Ishq Hona Hai is scheduled for release. The movie, which David Dhawan directed, is about a guy who had been turned down by several girls. He was in a love relationship with loneliness. But then he gets help from God, and all of a sudden, his mind is full of a lot of different ideas.

“Hai Jawani Toh Pyaar Hona Hai” is a popular song from David Dhawan’s movie Biwi No 1, starring Sushmita Sen, Salman Khan, and Karisma Kapoor, as many people are unaware. It is thought that this well-known song served as the inspiration for the title of the upcoming play.

David Dhawan’s 45 films include “Hero No. 1”, “Deewana Mastana”, Shola Aur Shabnam, Raja Babu, Bade Miyan Chote Miyan, Haseena Maan Jaayegi Dulhan Hum Le Jayenge, Mujhse Shaadi Karogi, Maine Pyaar Kyun Kiya? , Partner, Chashme Baddoor, and Main Tera Hero, to name a few.

To the joy of movie enthusiasts and fans, the creators of director Merlapaka Gandhi‘s highly anticipated horror-comedy ‘Korean Kanakaraju,’ starring actor Varun Tej, released a behind-the-scenes video for the film’s wildly popular single ‘Kamsahamnida‘ on Friday.

The link to the BTS video was shared on the social media timelines of First Frame Entertainment, which is co-producing the movie with UV Creations.

Behind every crazy vibe song, it said, there’s an even crazier making! The BTS for Korean Kanakaraju’s debut single, Kamsahamnida, is shown here.

The song, the music of which was scored by Thaman, was released on April 11 of this year to an audience that was not familiar with it. The film begins with Ritika Naik playfully saying ‘Kamsahamnida,’ which prompts Varun Tej to ask what it means.

Her Korean response, “Thank you,” sets the tone for the romantic connection between them.

The song is a fusion of popular mainstream themes and delicate Korean influences, creating a lighthearted and upbeat atmosphere. The innocence of new love is captured in Shyam’s writing at Kasarala, and the emotion is exquisitely enhanced by Sid Sriram’s soft yet expressive voice. With choreography that reflects the song’s upbeat attitude, Yash Master enhances the visual appeal.

Varun Tej’s on-screen persona is vibrant and effortless, with a massive, rough appearance, and his connection with Ritika seems to be bright, energetic, and refreshingly fresh. The song’s immediate repetitiveness is due to their moments together, which are set against the upbeat music of Thaman.

The team is expected to announce the release date soon, as filming is about to wrap up.

The filmmakers revealed the start of the film’s last production schedule in Korea last month, as you may remember.

The crew had then planned a key one-week itinerary in Korea with meticulous care, according to sources close to the movie unit.

The filmmakers captured songs and some important moments during this period. The itinerary included Ritika Nayak, Satya, and Varun Tej. During this schedule, the sequences were filmed in vibrant Korean settings.

With a lavish budget, the movie combines humor and horror with a fascinating cross-cultural element, taking place in both Indian and Korean settings.

According to sources, Varun Tej’s character will be unlike any he has ever played and will portray him in a whole different way.

The release of the title sneak peek on Varun Tej’s birthday had already sparked a lot of excitement for the movie.

A photographer from India is seen being tortured by police officers in Korea during the title peek. The police are requesting the photographer to provide information about the whereabouts of someone they know as Kanakaraju.

At first, the photographer has trouble comprehending since he doesn’t speak the language. He tells the interpreter (Ritika Nayak) that he has no idea where Kanakaraju is when she arrives and explains what the police want from him.

However, on a night with a full moon, Varun Tej plays the role of a possessed Kanakaraju who enters the station and kills the Korean police officers with a Samurai sword.

The photographer remarks that this Kanakaraju isn’t our Kanakaraju… after he bursts into laughter and tells me I’m back in Korean.

Manoj Reddy Katasani handled the cinematography, and Satyaa G handled the editing for the movie.

The Reserve Bank of India revoked Paytm Payments Bank Limited‘s license on Friday due to noncompliance with the regulatory requirements stipulated in its payments bank license.

In a decisive step, the central bank said the organization would no longer be allowed to conduct banking activities and declared that it would petition the High Court to begin the process of closing the bank.

According to its directive, the central bank said that, as of the close of business on April 24, the RBI has revoked Paytm Payments Bank Limited’s banking license, which was granted under Section 22(4) of the Banking Regulation Act, 1949 (‘BR Act’).

“Therefore, with immediate effect, Paytm Payments Bank Limited is forbidden from engaging in the business of ‘banking’ as defined in Section 5(b) or any other business as listed in Section 6 of the Banking Regulation Act, 1949,” the RBI added.

The RBI stated that it will petition the High Court for the bank’s liquidation.

The RBI said that Paytm Payments Bank has sufficient liquidity to cover all of its deposit obligations, guaranteeing that depositors’ interests will be protected during the closure.

According to the central bank, “Paytm Payments Bank Limited has sufficient liquidity to meet all of its deposit liabilities upon the bank’s closure.”

Additionally, it said that there would be no advantage to the public or purpose in allowing the bank to continue operating.

The RBI stated that “allowing the bank to continue as envisioned in Section 22 (3) (e) of the BR Act would not serve any useful purpose or public interest.”

According to the central bank, “the bank violated the provisions of Section 22(3)(g) of the BR Act by failing to comply with the terms specified in the Payments Bank license issued to it.”

The bank had previously been instructed to halt the enrollment of new clients as of March 11, 2022.

Subsequently, the RBI stated that several business restrictions were placed on the bank on January 31, 2024, and February 16, 2024, which, among other things, prohibited any further deposits, credits, or top-ups in prepaid instruments, wallets, and other existing customer accounts.