Infibeam Avenues Limited has informed the Exchange about Receipt of In-Principle Approval for issuance of Prepaid Payment Instruments by Reserve Bank of India ( RBI )
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Infibeam Avenues Limited has received an in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs). PPIs include instruments like prepaid wallets, prepaid cards, and other digital payment products. The in-principle approval is the first step before a final licence is granted by the RBI. This move will allow the company to expand its fintech and digital payments business under its own regulated framework. The approval strengthens the company's position in the payments ecosystem alongside its existing payment gateway business.
Positive for shareholders — the RBI in-principle approval opens a new revenue stream in the high-growth prepaid payments market and adds a regulated licence to the company's portfolio, though final approval is still pending.