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The telcos get no respite from the interest and penalties they owe on their dues to the government.

Bharti Airtel’s ambitious plan for Airtel Money is a result of excess cash. The NBFC’s success will depend on how the parent battles the formidable rivals and India’s data privacy regulations.
For over a decade, the Swedish caller ID company thrived on India’s lightly regulated digital ecosystem. Now, it faces some existential questions in its largest market.
The domination of a few business groups—conglomerates—is a defining feature of the country’s economy. This has been enabled by policy, leading to stifled innovation and hindered progress. All of this, in turn, exacerbates inequalities.