Why RBI's ban on Simpl is a big deal

Business Sep 25, 2025

On September 25, the Reserve Bank of India (RBI) told buy-now-pay-later app Simpl to stop all payment services right away.
The reason? Simpl was running its payment system without the required Certificate of Authorisation—a big no-no under Indian law.
Even though Simpl partners with brands like Zomato and BigBasket, it doesn't have the NBFC license most rivals do.

What does this mean for you?

If you use BNPL apps or shop online, this is a wake-up call about how quickly rules can change the game.
The RBI's move follows stricter regulations issued last week for payment providers—so even well-funded startups like Simpl (which raised $83 million) aren't immune.
Plus, it's clear that authorities are watching fintech players more closely than ever.