Infibeam Avenues gets RBI nod to issue prepaid payment instruments

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Infibeam Avenues Ltd has received two major regulatory approvals that strengthen its foothold in the digital payments ecosystem. The company informed the exchanges that it has obtained in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs) under the Payment and Settlement Systems Act, 2007.

According to the filing, the RBI’s approval permits Infibeam Avenues to issue and operate prepaid payment instruments, subject to submission of a System Audit Report (SAR) within the prescribed validity period. This…



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Infibeam Avenues gets RBI nod to issue prepaid payment instruments


Infibeam Avenues Ltd has received two major regulatory approvals that strengthen its foothold in the digital payments ecosystem. The company informed the exchanges that it has obtained in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs) under the Payment and Settlement Systems Act, 2007.

According to the filing, the RBI’s approval permits Infibeam Avenues to issue and operate prepaid payment instruments, subject to submission of a System Audit Report (SAR) within the prescribed validity period. This…



Source link

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.

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