Reserve Bank of India

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Reserve Bank of India

Payments giants and fintech startups in India on Saturday requested the central bank to treat widely used prepaid payment instruments on par with bank accounts for customers who have undertaken certain verifications, days after the monetary authority signalled industry-wide crackdown. The Payments …

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India’s central bank cracks down on fintech startups

For fintech startups, lending has long been the end game. A notice from India’s central bank this week has thrown a wrench into the ecosystem, scrutinizing just who all can lend.

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Sachin Bansal’s firm fails to secure India bank permit

The Indian central bank has rejected the application of Chaitanya India Fin Credit seeking permission to become a bank in a major setback to Flipkart billionaire Sachin Bansal, who has been looking to take his newer venture, Navi, public. The Reserve Bank of India on Tuesday rejected four applicati…

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Cryptocurrency is akin to ‘Ponzi scheme’ and banning it is ‘perhaps the most advisable choice’, says India’s Central Bank

A top official of India's central bank has compared cryptocurrency to "Ponzi scheme" and suggested an outright ban in its sharpest criticism just weeks after the government proposed taxation of the virtual digital asset.

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India bans Mastercard from adding new customers

Reserve Bank of India has indefinitely barred Mastercard from issuing new debit, credit or prepaid cards to customers in the South Asian market over noncompliance with local data storage rules. The South Asian market’s central bank said the new restrictions will go into effect on July 22. &#8…

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WeWork India exposed visitors’ personal information and selfies

Visitor names, email addresses, phone numbers, and selfies were exposed to the internet.

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TikTok says ‘Project Texas’ will bolster security for U.S. users in wake of China data access concerns

Over the weekend, TikTok wrote to Republican Senators to assure them that it’s working on a program called “Project Texas” to bolster data security for U.S.-based users. This was in response to the Senators’ letter to the company dated June 27 that questioned its data access…

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