RBI Circular sends PPIs into a tizzy

Jun 23, 2022

New harmonisation proposals to create level playing field for NBFCs-MFIs: Ind-Ra – ThePrint –

RBI in its latest circular dated 20th June 22 has clarified Prepaid Payment Instrument (PPIs) cannot issue credit lines . This has sent Buy Now Pay Later (BNPL) players such as LazyPay, Slice, KreditBee etc. into a tizzy, as it makes their business illegal.

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