An industry letter to the central bank has sought clarification on the regulator’s advice to some NBFCs to cease or modify their supply-chain finance products.
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They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.
After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.
Fintech startups have only been able to corner a small part of the value in gold-linked financial products like gold loans and digital gold even as gold prices have shot up. Regulatory changes may pose a further challenge.