Fintechs Seek Clarity After Ban

Fintech companies and banks have reached out to the MeitY and the RBI for clear guidelines and more time to comply with the new rules

The major point of contention for the aforementioned players arises from the fact that the refunds required to settle RMG user balances require an adequate liquidity buffer

On the other hand, banks are said to have sought clarity on how to separate regular salary or vendor payments from gaming-related transactions in current accounts

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