Parliamentary panel seeks penalties for banks hosting multiple mule accounts
A parliamentary committee suggests penalizing banks for mule accounts and KYC lapses. It also highlighted delays in merchant discount rates impacting payment providers' investments. The government is exploring a self-reliant revenue model for UPI's financial sustainability. Amendments allow charges on UPI and other digital payment modes. This aims to address a significant funding gap impacting infrastructure development.
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Wow
0
Sad
0
Angry
0
Comments (0)