The Great Indian Fintech Crackdown: RBI Looks To Clean Up Digital Lending

The Great Indian Fintech Crackdown: RBI Looks To Clean Up Digital Lending

SUMMARY

RBI’s policy barring NBFCs from lending through PPI threatens to disrupt well-funded fintech startups

The best policies, laws and regulations in the world are lauded for being future-proof. Unfortunately for policymakers, regulating technology is like swimming against the current — just ask the Indian fintech ecosystem this week.

While the mood of the fintech sector was lifted earlier this month with the move to link credit cards to UPI, now we can note quite a few crests falling. The RBI’s policy to bar NBFC lenders from PPI credit instruments threatens to disrupt a slew of well-funded fintech startups in India.

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