.....RBI Deputy Governor HR Khan on Wednesday ruled out allowing mobile network operators (MNOs) from offering cash-out or mobile wallet facility unless they convert their services as banking business correspondents, reports PTI. "We don't want to permit cash-out facility by the mobile network operators. We are very clear that they should not bypass the banking regulations. However, mobile wallet facility can be given to them if they work as business correspondents of banks," Khan told reporters, at the second day of the FICCI-IBA banking summit.....
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