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RBI's mobile wallet restrictions: What it means for fintechs, users

RBI's mobile wallet restrictions: What it means for fintechs, users

NewsBytes 3 weeks ago
The Reserve Bank of India (RBI) has surprised the fintech industry by tightening guidelines for prepaid payment instruments (PPIs), popularly known as mobile wallets.
The new rules, which affect major players like Mobikwik, PhonePe, Amazon Pay, Pine Labs, and Airtel Payments Bank, among others, impose a ₹2 lakh monthly outstanding balance limit in a wallet. There is also a ₹25,000 limit for person-to-person (P2P) transfers and a ₹10,000 monthly cash loading balance, among other restrictions.
NewsBytes

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