Stay updated with breaking news from Ckjxh fiddbh. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Three fundamental sources of infirmity need fixing. First, the KYC process using Aadhaar must be made credible and secure. Second, since most UPI transactions are free, traditional lenders have little incentive to shorten their technology-upgrade cycle. Third, the monopoly of the National Payments Corporation of India, which runs the UPI, must end. As long as the country’s preferred system for moving money online is devoid of fair charges and free from competition, there are great risks ....
The Reserve Bank of India has taken regulatory action against Paytm and Visa Inc., and more nonbank intermediaries may be targeted. The growth of neo-banking in India has increased the risk of fraud. KYC regulations and digital payments face challenges, and nodal accounts are used for real-time processing. ....