Latest News | RBI Grants In-principle Approval for Payment Aggregator Licence to EnKash

New Delhi, Jan 11 (PTI) 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.

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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.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)