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Kabaddi Champions League fixes December 28 player auction
SONIPAT: The Kabaddi Champions League (KCL) has set December 28 for its first-ever player auction, marking a decisive step towards the launch of its inaugural season. Eight franchises will compete to assemble squads from a deep domestic talent pool, backed by a total purse of Rs 4 crore.
The announcement follows the completion of the league’s Zone 4 and central trials in Sonipat, which drew strong interest from across the country. More than 3,500 players registered for the trials, with over 1,500 athletes turning up for the central rounds. After a rigorous screening process, more than 110 players have been shortlisted, while the final auction pool is expected to comprise 200 to 250 players across categories.
Alongside emerging and grassroots talent, the auction will feature several established kabaddi professionals, including players with experience in national tournaments and leading professional leagues. Their presence is expected to lift the competitive intensity and sharpen the league’s on-court quality.
The trials were held across Sonipat and neighbouring regions under a structured and transparent evaluation framework. Selection panels included former international players and senior kabaddi figures, lending credibility and technical depth to the scouting process.
With trials concluded, focus now shifts to the live auction, where franchises will build balanced squads of raiders, defenders and all-rounders within defined purse limits and squad composition norms. The league said detailed auction guidelines will be shared ahead of the event.
Positioned as a bridge between grassroots and professional kabaddi, the Kabaddi Champions League aims to create a clear progression pathway for players. The December auction is expected to shape the competitive contours of the league ahead of its debut season, with further details on venue and logistics to be announced shortly.
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Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
