Mutual funds aspirants have the option of snapping up smaller AMCs or applying for a new licence.
The Reserve Bank of India (RBI) on Wednesday proposed to make interoperability mandatory for digital payments firms. It also allowed users to withdraw cash from e-wallets and fintech companies to process RTGS and NEFT transactions. The RBI expressed dissatisfaction over prepaid payment instruments' (PPIs') failure to migrate towards full-KYC (know your customer) PPIs, and therefore interoperability, even two years after guidelines were issued.
Life insurance companies assert that the blockchain being created has strict protocols to leave no room for manipulation and exploitation, or unauthorised use of customer data and personal information.
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