New Delhi, July 21 -- One97 Communications, the parent company of Paytm, has applied to the Reserve Bank of India (RBI) for a Prepaid Payment Instrument (PPI) licence, marking another step in its efforts to rebuild its digital payments business following regulatory restrictions on Paytm Payments Bank.
If approved, the licence would enable Paytm to issue and operate its own digital wallet under the listed entity, allowing it to re-enter a segment that was once a key part of its payments ecosystem.
A PPI licence authorises eligible entities to issue prepaid payment instruments such as digital wallets. These wallets allow users to load money in advance and use the stored value for merchant payments, utility bill payments, shopping, and other...