Rajnish Kumar of BharatPe says “UNO, owned by a bank with good governance, follows design principles for security and compliance. Fintechs, without a banking license, need self-regulation. Responsible behavior is crucial in the payment ecosystem to mitigate risks of fraud, cybercrime, and data breaches. ​Today, if you are seeing that India’s banking system is much stronger, it is because the RBI has played a very critical role in providing that necessary supervision, guidance and regulations.”
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