The Reserve Bank of India grants in principle approval for a PPI licence to the fintech platform Slice.
RBI has given Slice preliminary clearance for a PPI licence. Now, they want to attract additional consumers who want to use Slice. By providing minimum know your customer (KYC) PPI accounts to teens, Slice hopes to grow its user base. According to the RBI’s rules for small PPI players, the fintech company will enable its new user base of teenagers to spend up to INR 10,000 per month.
Fintech platform Slice receives PPI licence from RBI
