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What are the primary concerns raised regarding fintech companies in India?
  • a)
    They only operate in urban areas
  • b)
    They are not regulated by any authority
  • c)
    They may be exploited for money laundering
  • d)
    They eliminate the need for all traditional banking
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What are the primary concerns raised regarding fintech companies in In...
One of the primary concerns regarding fintech companies in India is their potential exploitation for money laundering activities. Regulatory bodies have raised alarms about certain apps being involved in scams, highlighting the need for robust regulations to ensure compliance and safeguard against financial crimes while still promoting innovation in the fintech sector.
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What are the primary concerns raised regarding fintech companies in India?a) They only operate in urban areasb) They are not regulated by any authorityc) They may be exploited for money launderingd) They eliminate the need for all traditional bankingCorrect answer is option 'C'. Can you explain this answer?
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