Fintech unicorn slice gets prepaid pay licence from RBI: Report

Fintech unicorn slice has received Prepaid Payment Instrument (PPI) licence from the RBI, The Economic Times reported. In August, the RBI banned PPI, mandating that the flow of funds should only be made between the customer and lender's bank accounts, a move that affected slice. The fintech firm will now reportedly offer PPI accounts to teenagers to expand user base.