Former SBI CGM appointed liquidator for Paytm Payments Bank
The Delhi High Court has appointed Girikumar M. Nair, a former Chief General Manager (CGM) of SBI, as the liquidator for Paytm Payments Bank Ltd. This appointment follows the Reserve Bank of India's (RBI) cancellation of the bank's banking licence three months prior. As per the court order, the Official Liquidator will exercise powers prescribed under the Banking Regulation Act, 1949, and applicable provisions of the Companies Act, 2013, to oversee the liquidation process.
Key Points
- Delhi High Court appointed a liquidator for Paytm Payments Bank Ltd.
- Girikumar M. Nair, former SBI CGM, is the appointed liquidator.
- The appointment follows RBI's cancellation of Paytm Payments Bank's banking licence.
- The liquidator will operate under the Banking Regulation Act, 1949, and Companies Act, 2013.
Exam Facts
- Liquidator: Girikumar M. Nair (former SBI CGM).
- Bank: Paytm Payments Bank Ltd.
- Regulatory bodies: RBI, Delhi High Court.
- Acts: Banking Regulation Act, 1949; Companies Act, 2013.
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