Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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PhonePe - ZestMoney deal to set precedence for fintechs to explore backdoor entry into the lending business&nbsp;

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                            <p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>PhonePe - ZestMoney deal to set precedence for fintechs to explore backdoor entry into the lending business&nbsp;</em></p><p style="text-align:justify">Despite three months of engagement and continued discussions with the banking regulator, fintechs may not have cracked the code yet to operate as non-bank lenders. Highly placed sources say the Reserve Bank of India is reluctant to issue non-bank finance company or NBFC licences to fintechs.</p><p style="text-align:justify">PhonePe, Razorpay, BharatPe, Khatabook, OkCredit and NiYo which operates as neo-bank, are among the well-known names who had approached the banking regulator for NBFC licence, but their requests have been turned down.</p><p style="text-align:justify"><em>Secure licenses</em></p><p style="text-align:justify">Fintechs are now making representations through the industry bodies to clear the path for secure licenses. &ldquo;We are in touch with the RBI on this matter,&rdquo; said Ram Rastogi, Chairman, Fintech Association for Consumer Empowerment (FACE).</p><p style="text-align:justify">However, sources say that RBI has put the matter on hold for now. &ldquo;It (RBI) has become a bit liberal in considering NBFC PA/PG (payment aggregator/ payment gateway) licences, but a generic NBFC licence still seems to be a no-go zone,&rdquo; said a source.. Issues relating to ownership of fintechs, especially pertaining to origin of capital flowing into these companies is one of the main concerns for the regulator.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/news/rbi-reluctant-to-hand-out-nbfc-license-to-fintechs/article66194993.ece" title="https://www.thehindubusinessline.com/news/rbi-reluctant-to-hand-out-nbfc-license-to-fintechs/article66194993.ece">click here</a> to read more.&nbsp;</p>                                                           
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                            <p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>PhonePe - ZestMoney deal to set precedence for fintechs to explore backdoor entry into the lending business&nbsp;</em></p><p style="text-align:justify">Despite three months of engagement and continued discussions with the banking regulator, fintechs may not have cracked the code yet to operate as non-bank lenders. Highly placed sources say the Reserve Bank of India is reluctant to issue non-bank finance company or NBFC licences to fintechs.</p><p style="text-align:justify">PhonePe, Razorpay, BharatPe, Khatabook, OkCredit and NiYo which operates as neo-bank, are among the well-known names who had approached the banking regulator for NBFC licence, but their requests have been turned down.</p><p style="text-align:justify"><em>Secure licenses</em></p><p style="text-align:justify">Fintechs are now making representations through the industry bodies to clear the path for secure licenses. &ldquo;We are in touch with the RBI on this matter,&rdquo; said Ram Rastogi, Chairman, Fintech Association for Consumer Empowerment (FACE).</p><p style="text-align:justify">However, sources say that RBI has put the matter on hold for now. &ldquo;It (RBI) has become a bit liberal in considering NBFC PA/PG (payment aggregator/ payment gateway) licences, but a generic NBFC licence still seems to be a no-go zone,&rdquo; said a source.. Issues relating to ownership of fintechs, especially pertaining to origin of capital flowing into these companies is one of the main concerns for the regulator.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/news/rbi-reluctant-to-hand-out-nbfc-license-to-fintechs/article66194993.ece" title="https://www.thehindubusinessline.com/news/rbi-reluctant-to-hand-out-nbfc-license-to-fintechs/article66194993.ece">click here</a> to read more.&nbsp;</p>                                                           
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                            <p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>PhonePe - ZestMoney deal to set precedence for fintechs to explore backdoor entry into the lending business&nbsp;</em></p><p style="text-align:justify">Despite three months of engagement and continued discussions with the banking regulator, fintechs may not have cracked the code yet to operate as non-bank lenders. Highly placed sources say the Reserve Bank of India is reluctant to issue non-bank finance company or NBFC licences to fintechs.</p><p style="text-align:justify">PhonePe, Razorpay, BharatPe, Khatabook, OkCredit and NiYo which operates as neo-bank, are among the well-known names who had approached the banking regulator for NBFC licence, but their requests have been turned down.</p><p style="text-align:justify"><em>Secure licenses</em></p><p style="text-align:justify">Fintechs are now making representations through the industry bodies to clear the path for secure licenses. &ldquo;We are in touch with the RBI on this matter,&rdquo; said Ram Rastogi, Chairman, Fintech Association for Consumer Empowerment (FACE).</p><p style="text-align:justify">However, sources say that RBI has put the matter on hold for now. &ldquo;It (RBI) has become a bit liberal in considering NBFC PA/PG (payment aggregator/ payment gateway) licences, but a generic NBFC licence still seems to be a no-go zone,&rdquo; said a source.. Issues relating to ownership of fintechs, especially pertaining to origin of capital flowing into these companies is one of the main concerns for the regulator.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/news/rbi-reluctant-to-hand-out-nbfc-license-to-fintechs/article66194993.ece" title="https://www.thehindubusinessline.com/news/rbi-reluctant-to-hand-out-nbfc-license-to-fintechs/article66194993.ece">click here</a> to read more.&nbsp;</p>                                                           
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RBI reluctant to hand out NBFC licence to fintechs -Hamsini Karthik

Published on Nov 28, 2022   Modified on Nov 29, 2022

-The Hindu Business Line PhonePe - ZestMoney deal to set precedence for fintechs to explore backdoor entry into the lending business  Despite three months of engagement and continued discussions with the banking regulator, fintechs may not have cracked the code yet to operate as non-bank lenders. Highly placed sources say the Reserve Bank of India is reluctant to issue non-bank finance company or NBFC licences to fintechs. PhonePe, Razorpay, BharatPe, Khatabook, OkCredit and NiYo which operates as neo-bank, are among the well-known names who had approached the banking regulator for NBFC licence, but their requests have been turned down. Secure licenses Fintechs are now making representations through the industry bodies to clear the path for secure licenses. “We are in touch with the RBI on this matter,” said Ram Rastogi, Chairman, Fintech Association for Consumer Empowerment (FACE). However, sources say that RBI has put the matter on hold for now. “It (RBI) has become a bit liberal in considering NBFC PA/PG (payment aggregator/ payment gateway) licences, but a generic NBFC licence still seems to be a no-go zone,” said a source.. Issues relating to ownership of fintechs, especially pertaining to origin of capital flowing into these companies is one of the main concerns for the regulator. Please click here to read more.

The Hindu Business Line, 28 November, 2022, https://www.thehindubusinessline.com/news/rbi-reluctant-to-hand-out-nbfc-license-to-fintechs/article66194993.ece

Tagged with: NBFC licence NBFC fintech Reserve Bank of India RBI

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