- If digital lenders conform to the new rules and win trust of the RBI and the government, it could open up new doors in India’s banking sector
In July this year when the Reserve Bank of India (RBI) forced India’s rapidly growing fintech industry to ease the accelerator by banning firms offering pre-paid instruments, or non-bank digital wallets and pre-paid cards, from providing credit lines on fintech platforms, there appeared to be a pushback. India, like a few other markets, now has a thriving fintech industry with a few firms in the list of unicorns and attracting funding including global capital.
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