OneCard Under RBI Scanner; New Card Issuance Suspended Across Banks

Fintech unicorn OneCard, the Reserve Bank of India (RBI) has reportedly asked all its partner banks to stop issuing co-branded credit cards with the startup

The RBI sent letters to every partner bank, asking them to pause new OneCard issuances until the company addresses certain concerns. The regulator is said to be looking for more clarity on how data is shared between OneCard and its banking partners

The move comes at a time when the central bank has been tightening its noose…