Paytm (One 97 Communications Limited), which had floated the Paytm Payments Bank Ltd (PPBL), has distanced itself from its payments bank, calling it a “separate entity” after the Reserve Bank of India cancelled PPBL’s banking licence.

“As previously disclosed on March 1, 2024, the Company [Paytm] does not have any exposure to PPBL or any material business arrangements with PPBL. No services provided by the Company are in partnership with PPBL,” it said in a filing with exchanges.