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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The industry is divided on the implications of a new rule on prepaid cards and wallets, but it looks like most pay later business models no longer work.
A clarification on the prepaid payment instrument rules issued by the central bank to digital wallet companies late on Monday night has sent India’s fledgling but well-funded buy now pay later sector into a spiral and for all the right reasons.
From the circular (not yet uploaded on the RBI website): “The [Prepaid Payment Instruments - Master Directions] does not permit loading of PPIs from credit lines. Such practice, if followed, should be stopped immediately. Any non-compliance in this regard may attract penal action under provisions contained in the Payment and Settlement Systems Act, 2007.”
According to four industry executives, …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
A local fintech deal to consolidate operations, feedback on Saudi Arabia’s proposed IPO rules, and Ras Al Khaimah’s casino economy.
