Fintechs seek fresh protocol from regulators after Yes Bank crisis2 min read . Updated: 10 Mar 2020, 12:42 AM IST
- Payment startups must be mandated to have only a 25% exposure to a banking partner, say fintech executives
- PhonePe and BharatPe were forced to migrate to a new UPI banking partner after Yes Bank disabled its UPI handles last week
BENGALURU : Fintech startups rocked by the Yes Bank collapse have petitioned the regulator for fresh guidelines to limit the impact of similar events in the future. The unified payments interface (UPI) handles of Yes Bank were blocked after the Reserve Bank of India placed the private sector lender under moratorium, hurting startups that had tied up with it for UPI payments.
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