The Reserve Bank of India

Felix I. Lessambo ()
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Felix I. Lessambo: Fordham University

Chapter Chapter 11 in Fintech Regulation and Supervision Challenges within the Banking Industry, 2023, pp 145-152 from Palgrave Macmillan

Abstract: Abstract The digital payments market in India is estimated to reach the USD1 trillion mark by 2023. Nonetheless, there is no single set of regulations or guidelines, which uniformly govern FinTech products in India. While FinTech is making good progress, particularly the digital payments and lending space, the same is not true for cryptocurrency, where there has been considerable regulatory resistance. There is no regulation or any ban on the use of cryptocurrencies in the country. The central bank, in its circular dated April 6, 2018, had prohibited banks from dealing in cryptocurrencies or offering any service to customers on them.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-25428-4_11

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DOI: 10.1007/978-3-031-25428-4_11

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