RBI Won't Offer Banking Licenses to Corporates, Discusses UPI Sustainability

The Reserve Bank of India (RBI) isn't letting big companies directly start banks right now.

This is because the RBI worries it could cause problems if a company that also does regular business handles people's money in a bank.

Companies can still own a small part of a bank.

The RBI also wants to make sure no single company controls too much of any bank.

Also, the Governor said that somebody has to pay for the cost of payment systems like UPI in order for it to keep running.