Fintechs push for 'safe harbour' shield as RBI scrutiny and tax probes rattle sector

Payments Council of India is drafting a safe harbour framework to protect licensed fintechs and PSOs from retrospective regulatory or tax action. The move follows the arrest of Fino Payments Bank's CEO over alleged GST evasion by merchant intermediaries, raising compliance anxiety across the sector.

— Filed Wed, 27 May, 2026, 19:27 IST · Source Business Standard · Companies · Updated

Payments Council of India is drafting a 'safe harbour' framework for licensed fintechs and PSOs to shield compliant entities from retrospective regulatory or tax action, following Fino Payments Bank CEO's arrest over alleged GST evasion by merchant intermediaries.

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