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India's central bank has requested non-banking financial institutions to adhere to the cash payout limit for loans. The country is set to postpone the implementation of caps on the Unified Payments Interface (UPI) market share, favoring companies like Google Pay and PhonePe. The National Payments Corporation of India (NPCI) is likely to extend the market cap deadline, challenging the UPI duopoly. Concerns about profitability and the Google Pay-Paytm duopoly were raised at an RBI-UPI stakeholder meeting.
ET Now Exclusive | As per sources, RBI-UPI stakeholder meet held yesterday; concerns about more profitablity and Google Pay-Paytm duopoly raised Here is @AASTHACHOPRA13 with the rest of the details š https://t.co/taNyAJeOWK
ET Now Exclusive | As per sources, RBI-UPI Stakeholder meet held yesterday; concerns about more profitablity and Google Pay-Paytm duopoly raised Here is @AASTHACHOPRA13 with the rest of the details š https://t.co/LKVon2erI2
#NPCI to delay payments market cap, helping Walmart-backed #PhonePe, Google Pay NPCI will extend by as much as two years a year-end deadline to cap at 30% the market share of any company processing payments via the #UPI. https://t.co/JQZdB1tiDQ
