 "RBI, Reserve Bank of India")
Launched in 2015 with great fanfare, India’s payments banking ecosystem has taken a serious hit as the Reserve Bank of India (RBI) has halted two of the three existing payments bank from enrolling new customers.
Concerns over the eKYC, or electronically done know your customer process, as well as cases of more than Rs 100,000 being deposited in accounts, have caused the RBI to ask Paytm Payments Bank as well as Fino Payments Bank to halt inducting new customers for the time being.
Airtel Payments Bank, which was earlier asked by the nodal agency not to enrol new customers, got
