RBI grants PPI authorisation to Eroute Technologies

The Reserve Bank of India (RBI) has granted authorisation to Eroute Technologies to operate as a prepaid payment instruments (PPI) company. The RBI issued authorisation to Eroute Technologies Pvt Ltd with perpetual validity to commence issuance and operations of semi-closed pre-paid instruments in the country.

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The company aims to serve the underserved segments that comprise almost 680 million people, by creating user-friendly payment solutions addressing the specific needs of various consumer segments of our society.

About the PPIs:

PPIs are instruments that facilitate the purchase of goods and services, including financial services, remittances, and funds transfers, against the value stored in such instruments.

Important takeaways for all competitive exams:

  • Eroute Technologies MD & CEO: Sanjeev Pandey;
  • Eroute Technologies Headquarters: Noida, Uttar Pradesh.

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