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⍰ ASK How do electronic money institutions collaborate with traditional banks in India?

In India, electronic money institutions often team up with regular banks to create a strong financial system that combines the best of both digital and traditional services. One way they work together is by making it easy for you to move money between digital wallets and regular bank accounts.

This teamwork makes it simple for you to load money into your digital wallet or take money out from your wallet and put it in your bank account. Sometimes, regular banks may even invest in or team up with electronic money institutions because they see the potential for new ideas and more financial services in the digital world. This kind of investment not only helps digital money businesses grow but also brings in new tech know-how to regular banks.
 

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