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The banking regulator, through its internal investigation, found Simpl to be in violation of the Payments and Settlement Systems Act, 2007." The Reserve Bank of India (RBI) has asked Bengaluru-based fintech startup Simpl to halt all payment operations. In a letter dated September 25, a copy of which was reviewed by ET, the central bank stated: "The entity is directed to immediately stop the business of payment systems carried out by involving functions of payment, clearing, and settlement." Si ...Read More >
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