Current Affairs - Awards and Honours - Discussion

Girikumar Nair, former Chief General Manager of the State Bank of India (SBI), was appointed by the Reserve Bank of India (RBI) as the Official Liquidator for Paytm Payments Bank Limited. His responsibilities include supervising the winding-up process, ensuring compliance with the Banking Regulation Act, 1949, and the Companies Act, 2013, managing the settlement of liabilities, and protecting the interests of depositors and stakeholders. The RBI initiated the liquidation after the Delhi High Court approved the process following the cancellation of the bank's licence due to serious regulatory violations. The RBI also assured that the bank has sufficient liquidity to repay eligible depositors.