RBI Wields Wand to Cancel Paytm Payments Bank's License

In a dramatic turn of events, the mighty Reserve Bank of India has waved its wand, revoking the enchanted license of Paytm Payments Bank! This magical institution, unable to conjure up compliance, must now close its doors. Fear not, for it possesses enough treasure to repay its loyal customers, but the Ministry of Banking believes its spell has run its course!