New Delhi: In a significant financial development, the Reserve Bank of India (RBI) announced on Friday, April 25, 2026, the cancellation of the banking license issued to Paytm Payments Bank Limited. The decision was made under Section 22(4) of the Banking Regulation Act, 1949, and is effective from the close of business on April 24, 2026. This move by the central bank is expected to have ripple effects across the digital payments landscape in India.
Meanwhile, Prime Minister Narendra Modi was actively engaged in campaigning for the ongoing 2026 West Bengal Assembly elections. Sources report that PM Modi took a brief respite from his rigorous schedule on Friday morning to enjoy a boat ride on the Ganga river in Kolkata. He shared his experience on social media platform X, stating, "The sacred waters of the Ganga carry forward the eternal consciousness of the entire civilisation." He also mentioned observing the Vidyasagar Setu and Howrah Bridge from the river. During his boat ride, PM Modi interacted with local boatmen, with one boatman, Gouranga Biswas, sharing his surprise at the Prime Minister's presence. The Prime Minister's engagement in Bengal highlights the intense political activity surrounding the state's elections.
In other news, there were reports of a loud explosion in Kishtwar, Jammu and Kashmir, though the Indian Air Force quickly dismissed claims of a plane crash. Political developments also saw Raghav Chadha reportedly joining the BJP, with claims that two-thirds of AAP Rajya Sabha MPs would also merge with the party. These events collectively shape the news cycle in India on April 25, 2026.