Manav Jain
@manav9876 · 2:50

Why RBI is stopping companies from offering Buy Now Pay Later?

The RBI said that the printer company that have tied up to NBFCs and have started issuing PPI cannot allow customers to load their PPI or digital wallets via credit lines from BFC. So why did RBI do this to begin with? KYC guidelines are way less strict as compared to credit cards and hence RBI wants to crack down on the regulatory duphold. Additionally, PPIs are a medium of escalating payment and not a credit instrument