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The central bank’s approval is contingent on the fintech and the ailing lender fulfilling a number of conditions stipulated by it for the deal to pass muster.


The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.
The regulator’s proposals to introduce checks and safety features in instant payments, if implemented, may end up testing banks.
The UK-based company will have to go above and beyond to survive a fiercely competitive and price-conscious market with strict regulations.