India's central bank orders Kotak Mahindra Bank to stop signing up new customers through its online and mobile banking channels and cease issuing fresh credit cards after finding "serious deficiencies and non-compliances" in its IT practice
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The National Payments Corporation of India (NPCI), a special unit of the Reserve Bank of India, plans to extend the deadline for introducing a 30% cap on the market share of individual UPI ecosystem participants, the sources said. The NPCI had initially planned to enforce the market share cap in January 2021, but postponed the deadline to January 1, 2025. TechCrunch had previously reported that the regulator was moving towards extending the deadline further after concluding that there is no practical solution to address the issue. source: techcrunch
India’s mobile payments regulator is likely to extend the deadline for imposing market share caps on the popular UPI payments rail by one to...
https://techcrunch.com/2024/05/09/india-weighs-delaying-caps-on-upi-market-share-in-win-for-phonepe-google-pay/