In a significant development, Revolut India, backed by Tiger Global and Softbank, has secured in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPI). This approval marks a crucial step for Revolut in expanding its presence in the Indian market, enabling the provision of multi-currency forex cards and cross-border remittance services. With this license, Revolut aims to offer Indian consumers a comprehensive range of international and domestic payment solutions on a single digital platform. Advancing in the Indian Market Revolut India, a digital-first financial institution, entered the Indian market in 2021, aiming to disrupt the domestic…
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