Pre-paid card comeback may have bolstered the case for NBFCs' plastic play

With pre-paid card players back at the drawing board, the case for the entry of NBFCs into plastic may have got stronger

Raghu Mohan
Last Updated at July 3, 2022 18:26 IST

Credit card buys seen 8% lower in Apr-June quarter, say analysts

While the RBI has not elaborated on why it did what it did on PPIs, it is clear as daylight that the instrument was being used to skirt regulations around the entry of NBFCs into the credit-cards business.

Last Thursday, the Financial Stability Report (FSR, June 2022) noted that “the advent of fintech has exposed the banking system to new risks which extend beyond prudential issues and often intersect with other public policy objectives relating to safeguarding of data privacy, cyber security, and consumer protection.”

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