I hope you wrote this in jest

They had a history of non compliances. The RBI gave them quite a long rope, but guess they had to pull the plug finally

Bump

Everyone else gets f/ed. But the rich always land on their feet. Some become take the fall.

This article doesn't talk much about why such a drastic action was taken against Paytm. It just feels like a naive rant against RBI. What does RBI regs stunting big tech cos' payment initiatives, got to do with Paytm's current situation.

Anyways I expected some law firmites working on the Paytm matter would spill some tea here.

Srinivas Yanamandra - the king of compliance

Go through this analysis from Medianama founder Nikhil Pahwa, much of your doubts will be cleared- https://docs.google.com/document/d/1Qn5pCFn5JlfVOE9Txj6DmgfLJALST9Jl9eEraR7NWAc/edit

Thank me later, and ofcourse Nikhil.

Bump

Bumping this up!

Calling all the banking lawyers on LI to please explain why and what is happening? The notice is issued to Paytm Payments Bank and not for the Paytm App itself no?

What was the general counsel and Chief Compliance officer of Paytm Payments Bank do when the bank was making a mess of compliance?

Now Paytm Payments Bank could even be shut down.

It shows importance of culture of compliance and hiring the right legal and compliance team.