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Payments Banks responsible for their own failure, wont change rules: RBI

RBI has blamed the payment bank operators for their failure to sustain in the market. Talking about the fundamental problems payment banks are facing, Deputy Governor Vishwanathan said that the applicants for PB licenses made their own assessments before applying to work under the proposed business model.

Refuting any changes in the regulations, he added, “they applied for the licenses with their eyes wide open, we won’t change the rules of the game midway”. Notably, only 6 out of the  11 of payments banks are now operational. (Source)

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