29 July 2026

Paytm Payments Bank liquidation

The liquidation of a major financial entity under the Banking Regulation Act and the role of the RBI in regulatory oversight are significant topics concerning the functioning of statutory and regulatory bodies in India.

Questions

1. Discuss the role of the Reserve Bank of India in regulating banking companies under the Banking Regulation Act, 1949, with reference to the recent liquidation of a payments bank. 150 words
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2. The liquidation of financial institutions involves a complex interplay between the Banking Regulation Act, 1949 and the Companies Act, 2013. Analyze the legal mechanism for the winding up of banking companies in India and the role of the judiciary in facilitating this process. 250 words
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Prelims

1. Under which legislative framework is the official liquidator of a banking company primarily empowered to act in India?

   1. A Banking Regulation Act, 1949 and Companies Act, 2013
   2. B Insolvency and Bankruptcy Code, 2016 only
   3. C Reserve Bank of India Act, 1934 only
   4. D Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002