RBI grants in-principle approval for payment aggregator licence to EnKash

Fintech startup EnKash has got in-principle approval from RBI for payment aggregator's licence, the company said on Wednesday

Fintech industry, fintechs
Photo: Bloomberg
Press Trust of India New Delhi
1 min read Last Updated : Jan 11 2023 | 11:02 PM IST

Fintech startup EnKash has got in-principle approval from RBI for payment aggregator's licence, the company said on Wednesday.

The licence will enable EnKash to broaden its product offerings to millions of businesses for digital transactions.

Founded in 2018, EnKash claims to have assisted 1 lakh businesses to digitise and decentralise their corporate payments.

"RBI's in-principle approval to EnKash reiterates the need for digital solutions to manage business cash flows in an efficient way to sustain growth and profitability. This will help us streamline the cash flow process for businesses where they will be able to seamlessly consolidate their all payable and receivable and make necessary actions around payments," EnKash co-founder Yadvendra Tyagi said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :Reserve Bank of Indiafinance sectorFintech sector

First Published: Jan 11 2023 | 11:02 PM IST

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