VC-backed fintechs’ credit card play gets second shocker as key issuer pulls the plug

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SBM Bank India, the wholly-owned subsidiary of foreign lender State Bank of Mauritius (SBM), has blocked the corporate credit cards it offered in partnership with several fintech players in India following a Reserve Bank of India (RBI) diktat to update their 'know your customer' (KYC) details, multiple people privy to ......