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View: Paytm crisis shows RBI under Raghuram Rajan didn t think about orderly resolution Who loses now?

The RBIs unhappiness isnt new. It stopped Paytm Payments Bank from onboarding fresh customers nearly two years ago. Last year, while imposing a fine of $650,000 on the bank, the regulator highlighted a number of violations, including failure to identify beneficial account owners and a video-based customer identification that allowed connections from IP addresses outside India.

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RBI s Paytm freeze shows faulty understanding

The RBI’s press release detailed all the ways in which it was restricting Paytm Payments Bank. The statement didn’t have a word about what customers are supposed to do. This has caused unnecessary chaos for 50 million merchants, for whom online payments are synonymous with the Paytm app, connected to a Paytm Payments Bank account

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When bankers pay was brought under scrutiny, no one saw this coming

In several instances, RBI has refused to approve a pay hike, delayed approving higher remuneration or even directed an outright pay cut for top executives of private banks

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Axis Bank moves NCLT to seek insolvency proceedings against Zee Learn

Axis Bank moves NCLT to seek insolvency proceedings against Zee Learn
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Axis Bank Zee Learn: Axis Bank moves NCLT to seek insolvency proceedings against Zee Learn

Axis Bank has filed a petition before the National Company Law Tribunal (NCLT) seeking insolvency proceedings against Zee Learn, the education services provider. The petition, filed under Section 7 of the Insolvency and Bankruptcy Code, aims to initiate the CIRP. Zee Learn has received a notice from the NCLT and is verifying the information claimed by Axis Bank.

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