The central bank Reserve Bank of India has granted Slice a prepaid payment instrument (PPI) licence (RBI).
The Economic Times report quoted sources saying, “Slice has received the PPI licence from RBI and its product has gone live with a few select users as well. They hope to accept more users who want to come to Slice as a result of this.” Slice intends to expand its user base by offering minimum know your customer (KYC) PPI accounts to teenagers. The fintech startup will allow its new user base (teenagers) to spend up to INR 10,000 per month, in accordance with the RBI’s guidelines for small PPI players.
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The central bank Reserve Bank of India has granted Slice a prepaid payment instrument (PPI) licence (RBI).
The Economic Times report quoted sources saying, “Slice has received the PPI licence from RBI and its product has gone live with a few select users as well. They hope to accept more users who want to come to Slice as a result of this.” Slice intends to expand its user base by offering minimum know your customer (KYC) PPI accounts to teenagers. The fintech startup will allow its new user base (teenagers) to spend up to INR 10,000 per month, in accordance with the RBI’s guidelines for small PPI players.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
