RBI order forces Instamojo to shutter core payments business

The central bank’s rejection of the decade-old company’s application for a payment aggregator licence triggers a pivot and chaos.

15 November, 20239 min
0
Banner image

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

SUBSCRIBE
Already have an account? Sign In

Not ready to subscribe? Sign up for a free account

We value our free readers. Read 100+ stories every year.

You may also like

Internet
Story image

Impact of real-money gaming ban on payment gateways is overstated

The loss of business could dent volumes, but should have next to no effect on the bottom line of payment companies

Business
Story image

The other challenge that Rajiv Anand faces at IndusInd Bank

High levels of attrition, a leadership coterie and allegations of a toxic work culture combine to give the new CEO an HR headache—one that he must tackle with little help from the RBI.

Tech
Story image

Why Dhruv Rathee’s unremarkable AI platform may still succeed

Launched at the same time as ChatGPT Go, the YouTuber’s AI aggregation platform doesn’t bring anything new to the table. But it could leverage his online influence and India’s growing AI market.