but RBI is one of the best and well managed Central Banks across the world
It could be argued that RBI's reputation has been permanently affected by demonetization and the subsequent withdrawal of the Rs 2000 note. These are not actions of a secure or trusted institution. What other world power, regardless of corruption, has done this at any point in its history?
There are many things which he might not be aware about the lapses
His comments read as if he's privy to information that the general public is not — and that his organization is probably next in line.
The current government of India exerted control over the traditional banking system through RBI with demonetization, this level of control is just not possible with fintechs.
For better or worse, the dream of a cashless society that they sold to the masses has turned into a self-sustaining behemoth that cannot be controlled without drastic measures like what's happening with PayTM.
It looks like one of those situations where you just have to wait for the older mindsets to retire and be replaced with more forward-thinking individuals.