The termination of the $4.7 billion PayU-BillDesk deal by Prosus, the Dutch parent of PayU, reflects the liquidity crunch that has gripped the global markets and is likely to spell a phase of prolonged uncertainty in the Indian fintech sector, said industry executives.
Multiple founders and investors ET spoke to said the development has come at a particularly challenging time for the sector, which has been pummelled by a swathe of regulatory