Non-banks cannot load credit lines into prepaid payment instruments: RBI to fintechs - Moneycontrol

The move may impact credit products of fintech players who extend credit through prepaid payment instruments such as prepaid cards and wallets.

In what comes as a blow for well-funded fintech startups such as Jupiter, Slice, Uni, PayU's LazyPay, Fi, among others, the Reserve Bank of India (RBI) on June 20 issued a clarification on Prepaid Pa… [+3101 chars]

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