RBI restricts non-bank fintechs from extending credit lines on e-wallets

The Reserve Bank of India said in a letter that providers of prepaid payment instruments – mainly e-wallets – are not allowed to offer credit lines from non-banks. The letter, which was not published on RBI’s website, is verified by Trickypedia via a source. The clarification could have a significant impact on mobile wallets, which are a…

The post RBI restricts non-bank fintechs from extending credit lines on e-wallets first appeared on Enttrackr.

Leave a Comment