RBI vs. card-based fintech firms: what the central bank diktat means for the future of PPI lending

The RBI has hit the pause button on the rapid growth of card-based fintech startups with its recent circular. The move, which saw several startups ending up on the wrong side of the law overnight, has created some resentment among entrepreneurs. But with RBI’s guidelines on digital lending expected shortly, more clarity will emerge on the future of such fintechs.

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