New Delhi, Dec. 12 -- Reserve Bank of India Deputy Governor T Rabi Sankar on Friday addressed concerns regarding National Payments Corporation of India's (NPCI) rule of a 30% market share cap for unified payments interface (UPI) apps.

Speaking at the 18th Mint BFSI Summit, Rabi Sankar elaborated on the RBI's stance on NPCI's rule and said, "The basic issue is it's difficult to implement."

He further questioned, "How do you implement a cap? Can you ask an entity that is actively doing business to say that you stop acquiring customers, and this is number of transactions. How do you tell someone that?"

NPCI last year extended the deadline for third-party application providers (TPAPs) to 2026 to comply with limits on UPI transaction volume...