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Fintech associations, startups seek a 6-month extension to comply with RBI’s PPI mandate

Shortpedia

Content Team
Image Credit: Inc42

In a meeting with the RBI, fintech industry associations have reportedly urged the central bank to give a six-month extension to adhere to its recent Prepaid Payment Instruments (PPI) mandate. Two days ago, the central bank notified that the PPI-MD would not be permitted to load PPIs from credit lines. It commended the PPIs to cease these lending services immediately.