RBI's action on Paytm PB puts the spotlight on a few lingering issues

“For want of a nail, the shoe was lost; for want of a shoe, the horse was lost; and for want of a horse, the rider was lost.” Commonly attributed to Benjamin Franklin, it can be a trigger for a fresh look, after the developments at Paytm Payments Bank (PPB), at the following: Should there be a revisit of the domestic-systemically important bank (D-SIB) framework, and is there a case for this to be widened to cover more kinds of regulated entities (REs)? Also, should there be an examination of the root causes that led to the domination of UPI