RBI Authorizes AvenuesAI Limited to Operate Prepaid Payment Systems
AvenuesAI Limited, operating as GoWallet, has received official authorization from the Reserve Bank of India (RBI). This approval permits the company to set up and operate a payment system dedicated to the Issuance and Operation of Prepaid Payment Instruments under the Payment and Settlement Systems Act, 2007.The authorization granted by the RBI solidifies AvenuesAI’s capability within the financial technology sector, allowing the company to issue and run Prepaid Payment Instruments across India. This strategic approval significantly impacts the entity, enabling it to expand its operational scope in the domestic market.
The details of this regulatory achievement confirm that the assignment is for setting up a payment system at the RBI level. The authorization confirms AvenuesAI Limited's role in facilitating prepaid financial instruments, thereby reinforcing its position within India's fintech landscape.
CCAVENUE Stock Price Movement
AvenuesAI Limited shares settled higher today in post-market trading, rallying by 1.11% to close at ₹16.34. The equity saw a robust showing of activity, with the stock recording a volume of 10.66 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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