Cashless mode of payments is going to play an important role in India’s radio taxi market and the industry is in discussions with the Reserve Bank of India (RBI) to come out with alternative payment models, a top official said. Siddhartha Pahwa, Chief Executive Officer, Meru Cabs said the industry had given a couple of proposals to the RBI on the alternatives, which includes solutions such as a prepaid wallet and exempting a certain amount of rupee transactions from the two factor authentication...........
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