RBI bars prepaid wallets and cards from offering credit lines to customers
Non-banks issuing prepaid payment instruments (PPIs) like wallets and prepaid cards cannot offer customers a credit line, RBI said.
Source: medianama.com
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Is RBI Stand On Non-Bank PPIs A Death Blow To Some Star Fintechs?
Analysts suggest, the RBI is essentially trying to remove any regulatory arbitrage that a wallet/ non-bank PPI may have versus a bank.
Source: inc42.com