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The fintech firm’s revenue in the October-December period sees an 18% jump year-on-year.

High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
An NBFC licence and a string of approvals give the fintech firm a fresh shot at relevance. But patchy execution, intense competition and a stagnant core cast doubt on whether it can capitalize on the opportunity.
The regulator’s proposals to introduce checks and safety features in instant payments, if implemented, may end up testing banks.