RBI to restrain payment aggregators from storing debit, credit card data
Thu, Apr 18, 2024 2:02 PM

RBI to restrain payment aggregators from storing debit, credit card data

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The Reserve Bank of India (RBI) is apparently getting strict with payment aggregators (physical) with introduction of new draft regulations, which stipulate that the non-banking entities which fail to apply for authorisation and are unable to maintain the net worth of ₹15 crore at the time of applying will have to close their business down by July 31, 2025. 

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