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The government wants to tax credit card transactions abroad but is missing a potentially bigger misuse of the instrument at home—fake rent payments.

The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
The managing partner at Key Capital talks about his new—and the region’s first-ever—secondaries fund and why long investment cycles are not everyone’s cup of tea.