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The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore each on payment platforms Mobikwik and Spice Money. In a press statement, RBI said that the penalties have been imposed on these two payment service operators…

The pandemic forced an inevitable shift to digital payments but Indians continue to have a strong bias for cash payments, a report said. Due to the emergence of disruptive technologies leading to technology led payment solutions, there is a…