Friday, 24 March, 2023

Payments Council requests government assistance after RBI's fintech order

<p>The RBI recently issued a rule prohibiting payment businesses from loading credit lines onto wallets&#39; prepaid payment instruments, and the Payments Council of India (PCI) and numerous fintech companies have urged the government to intervene to fix the issue. According to the council, credit should be able to be disbursed to wallets that completely adhere to KYC standards. Fintech companies and start-ups in digital lending were consulted by the council last week.</p>