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The Bengaluru-based brokerage wants to hold customer funds to build a faster payment system, but the central bank is wary of reopening what it sees as a failed experiment.

Delhi High Court takes aim at the search giant’s AdWords model, ruling that keyword bidding on trademarks constitutes infringement.
High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.