Why RBI cancelled Paytm Payments Bank's banking licence

The RBI's cancellation of Paytm Payments Bank's licence ends a two-year restriction and kills one of the original SoftBank-era Indian fintech bets. Lead with what went wrong — repeated KYC and related-party rule violations — not the SoftBank loss. The reader should see the mechanism: India's regulator has shown it will let a headline fintech die rather than grandfather non-compliance, a sharper line than US or EU regulators take with comparable firms. Sets a precedent other Indian payments banks and their global investors now have to price in.