The Real Story Behind The Paytm Crisis (& why we are responsible too) | Akash Banerjee

Was the RBI move to virtually shut down Paytm Payments Bank too soon or too harsh???
Tarns out that there is a long backstory to this saga of mismanagement and non compliance.
But if that is the case - how did Vijay Shekhar Sharma manage to stay above the law for so long and what kind of false 'tech-god' were so many people worshipping???

VVS's gets angry when asked about high valuation & path to profitability
(stunning interview to CNBC-TV18)

Why we need to chill down and control the hype over UPI
(Samir Arora being brutal about the future of 'fin-tech')

****RELATED EPISODES*****
Ashneer Grover Vs Bharat Pe | From Shark to 81cr. Fraud?? | Akash Banerjee
SCAM 2023? | Lessons from the Stunning Rise & Dramatic Collapse of Byju's | Akash Banerjee

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Credits :
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[thedeshbhakt]

Ashneer Grover, Byju Raveendran now Vijay Shekhar Sharma; what gives some of our top founders such a God Complex?
Why do they think that they are above the law?

***RELATED EPISODES***
Ashneer Grover Vs Bharat Pe | From Shark to 81cr. Fraud?? | Akash Banerjee

SCAM 2023? | Lessons from the Stunning Rise & Dramatic Collapse of Byju's | Akash Banerjee

[ThinkifyIndian]

Paytm Karo❌
RBI Guidelines follow Karo✅
With Millions of users it's a shame for a Fintech company to violate principles.

[Esther-psvx]

If a common man does fraud, he is punished. These rich people will get away with anything. I am taxed for any extra income I make, but the rich will never be taxed like the common man. Life is not fair. I hate it when they get away with everything. Thank you, Akash, for another great informative video.

[vidyeshwarprasad]

After BYJU'S, another high voltage n informative video. Thanks a lot Akash! A good no. of Gods emerged in the past few years. Their reality is getting exposed now. Unfortunately, these false gods are being worshipped by us due to lack of awareness n misplaced enthusiasm, getting easily swayed by the hype around them.RBI deserves to be applauded for deftly playing the role of economy's watchdog n punishing the violators for non-compliance of regulatory norms.

[jishnukanjilal]

Powerful episode as always! I have quite a few ex-colleagues who are now “Change Catalysts” “C-Suite pros reimagining India’s financial services sector” who use a term called “rocket ship” to describe their organisations. I’ve literally grown allergic to this term and such wannabes. We don’t need unsustainable rocketships with sketchy business models, we need sustainable and profitable companies to drive real economic growth. At the end of the day, retail investors are the real losers. We really need to stop our hero worshipping tendencies whether it be in politics, sports or business.

[Invisible-jouo]

I have a question, why i mean why the startups once consider as a starter of revolutionary sector, like paytm for fintech & byjus for Ed tech are now failing ?

I seriously wants to know !

I'm curious, is their over confidence is the reason ?

Seriously, it's a whole research topic, and i think it's just the starting more is yet to come !

[shajuputhuval]

Patriotism is the last refuge of a scoundrel.... In new India this Quote is exactly correct 👍

[ankurchh]

already stopped using this paytm wallet 4 years ago... because of the lack of a cyber security system they have...

[kushagra]

These facts are very much true.

1. Someone I know got a name spelling different from PAN on Paytm Bank account because Paytm fetched the spelling from 'sign up using Facebook'. So, if someone has a Facebook account on the name 'cool dude', he can theoretically get a bank account on that name. So much ignorance !

2. There was a huge mismatch (not 50-100, but much, much bigger than that) in Paytm and bank statement. I reported the problem to both my bank and Paytm, but nothing happened. I then approached the National Consumer Helpline, and received the difference credited to my account in 2 days. License cancellation of these scammers is in the best interest of the country.

[parulrana]

Really an eye opener, excellent analysis Akash.

[georgenolis]

Just one simple question. If RBI was aware since 2018 about Paytm non compliance of banking regularities then why did it allowed the same Paytm in 2022 to issues IPO's that got oversubscribed at a price band of Rs. 2, 500/- and then in the next couple of years the RBI issued a cautionary notification against Paytm? Isn't it RBI and SEBI are parties to yet again a financial scam in the making?

[en.kunalgupta]

Chandigarh election ka mamla bi garam h Sir.... apka wait kr ra hu m.

[kgangavaram]

Moral learnt bhai - "A Company that leaps quickly will also descend rapidly."

[firozwani]

Just paused the video 19:17 and went to see firstly the interview of vijay shekhar sherma 🙁 but unfortunately it should not be the attitude.... Happy to know the management of PAYTM 😊 .NOW continuing AAKASH BANERGEE from 19:17.👍

[SouvikRoy-nk]

Kya baat Hai...fully-fledged elaboration

[mibinmammen]

Akshat shrivastava did a episode on why he is not investing in Paytm IPO a few year back. I had seen that episode several times and currently seeing the loss in Paytm Banks makes me sad and shameful and grateful that me or mutual funds I invested in doesn't invest in Paytm. Akash Banerjee kudos for this wonderful episode. But I wish more interviews on such topics with Vivek Kaul, Raghuram Rajan and others including stock market analysis in your episodes with interviews

[prashantch]

Thanks for detailed analysis Akash, this was much needed 👍

[yogeshmeena]

Main 2021 se paytm payments bank use kr raha hu....aur maine aaj tak apni pan card details nahi di card se paytm wallet ki kyc karwayi thi...ushi se hi Paytm payments bank account bhi open ho gaya only single click se ....aur ushe aaj tak use kr raha hu pan card details share kiye bina hi

[patrioticindian]

How did he get permission to bring IPO when it already had so many strictures from.RBI.. did they mention all this in the prospectus?.

[dibyendugoswami]

Whatever may be the reason, its 100% sure that paytm hasn't followed the guidelines from day 1. They saw themselves as above the law. This might have some political aspect, but that's very minimal. They should have been more careful. Let's see if paytm survives for another year or becomes the next byjus.