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Already on a two-year extension (instead of the usual three), the banker hasn’t really moved the needle on the tasks he was set. Plus, his demand for a hike seems to be a fresh irritant for the RBI.

The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.
The regulator’s proposals to introduce checks and safety features in instant payments, if implemented, may end up testing banks.
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.