• India's central bank cracks down on fintech startups

    3 days ago - By Tech Crunch

    For nearly all fintech startups, lending has long been the end game. A notice from India's central bank this week has thrown a wrench in the ecosystem, scrutinizing just who all can lend.
    The Reserve Bank of India has informed dozens of fintech startups that it is barring the practice of loading non-bank prepaid payment instruments - prepaid cards, for instance - using credit lines, in a move that has prompted panic among - and existential threat to - many fintech startups and caused some to compare the decision to China's crackdown on financial services firm last year.
    Several startups...
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