RBI can’t wish away fintechs from UPI just yet
The central bank is worried about banks not doing enough to boost their market share vis-a-vis fintechs, but there is little incentive for private sector lenders to up their UPI game.

Subscribe to read this story
We publish over 500 original, detailed stories every year on startups, corporates, stock markets and economic current affairs.
$99 for one year
Not ready to subscribe? Sign up for a free account
We value our free readers. Read 100+ stories every year.
More in Internet
You may also like
HDFC Bank charged with ripping off NRI depositors. Now it is set to pay
Allegations of misselling risky AT1 bonds to retail investors come as a new headache for India’s largest private bank. The regulatory backlash could leave a $100 million hole in its books.
Paytm has steadied the ship
Vijay Shekhar Sharma’s fintech has reported its first operationally profitable quarter. However, he will need to wait to win back the regulator’s trust for Paytm to scale further.
Out to list, Pine Labs is a hardware business pretending to be a fintech
Its core POS machine business is small and growing slowly, and the company has done little else to justify its high valuation.