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BlackBuck Subsidiary Gets PPI Licence From RBI
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3 Articles
BlackBuck Subsidiary Gears Up for Digital Payments with RBI's PPI Nod
The Reserve Bank of India (RBI) has granted a prepaid payment instruments (PPI) licence to Zinka Logistics, a subsidiary of listed logistics giant BlackBuck.The business stated in an exchange statement that its fully owned subsidiary, TZF Logistics Solutions Pvt Ltd, was awarded the licence by the central bank. Banks and non-banks cannot issue PPIs without a licence under the Payment and Settlement Systems Act of 2007.To put it in perspective, P…
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tezzbuzzBlackBuck Subsidiary Gets PPI Licence From RBI
Listed logistics major BlackBuck parent Zinka Logistics’ subsidiary has secured a prepaid paid instruments (PPI) licence from the Reserve Bank Of India (RBI). In an exchange filing today, the company said that the central bank granted the licence to TZF Logistics Solutions Pvt Ltd, its wholly owned subsidiary. Under the Payment and Settlement Systems Act, 2007, a licence is necessary for banks and non-banks to issue PPIs. For context, PPIs faci…
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