PrancingPickle

Is system really fair? Thoughts on JioFin acquiring Paytm Wallets biz.

Was reading a thread where people were saying don't be in shock if Ambani/Reliance starts making move after RBI's action on Paytm. I initially thought it to be a meme. Now I am just curious.

Is the system really fair to allow such moves by the rivals after penalising them? Or is the system that rigged to make sure their friends can get all the business to technically get the favors, funds, etc? Any thoughts on this? Whether is it too cruel and unfair that system just can't come into action to stop such moves otherwise how the startups anyway could rival the innovation that happens in the West if our own system anyway is there to cripple in such scenarios or do you think it's all fair in the name of business (you donot follow regulations, you will have to suffer eventually)? PS:- This is just to have a healthy discussion without any biases intended, with no political agenda in mind. I hope you'll keep the discussion healthy and interesting. Picture source:- stocktwits(ig)

10mo ago

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PrancingBurrito

Stealth10mo

And how is the system unfair?

IF at all JioFin were to acquire Paytm's unit, there is nothing wrong, any business can acquire any business in an open market.

Paytm's episode is their own doing.

Linking 1 PAN Card to 100 and at times even 1000 account is UNETHICAL and BUSINESS MALPRACTICE.

Diverting customer's deposit to linked businesses is again UNETHICAL and BUSINESS MALPRACTICE.

No sympathy with a business whose foundations are shady af.

PrancingBurrito

Stealth10mo

If Paytm Payments Bank was left unchecked and if it went down tomorrow, who would we blame?

RBI, and Government.

Today when RBI has taken right action against their wrongdoing we must be happy. Lakhs or probably even crores of hardworking people are saved just in time.

PrancingPickle

Stealth10mo

Totally agree w.r.t. RBIs actions. But couldn't there be some other regulations into the picture where big sharks aren't allowed to acquire stakes into their rivals stake in such a situation to keep the competition healthy? Obv, as of now everything is valid. Do you think this do needs some changes, consider yourself as a startup founder there's a business to run, rivals to beat, customers to acquire, then there's legal side of things. I believe mistakes are anyway going to be a part of such a journey. But if you know such mistakes can be that hefty and cruel, I would just go back to not start a business at all. What would you do otherwise in such a situation?