Skip to content
Free updates Login
BankingNABARD / RBI

Niyo Secures IFSCA Payment Service Provider Licence at GIFT City

10 September 20261 min read
BANKING & FINANCENiyo Secures IFSCAPayment ServiceProvider Licence atGIFT City10 September 2026safalsetu.com

Why in the news

Fintech firm Niyo obtained a licence from the International Financial Services Centres Authority (IFSCA) so it can run payment services out of GIFT City.

Key facts

  • Licence: Payment Service Provider (PSP), granted by IFSCA.
  • Location: GIFT City, Gujarat.
  • It gives Niyo a regulated foundation for building international financial services.
  • Services in the pipeline: help with overseas education and jobs, global spending, and cross-border transfers.
  • Niyo intends to blend its digital platform with physical branches, offering both online and assisted service.

Exam angle

  • Regulator of the licence: IFSCA.
  • Licence category: Payment Service Provider.
  • Base for operations: GIFT City, Gujarat.

Test yourself

1. Which authority granted Niyo a Payment Service Provider licence for GIFT City?

IFSCA issued the PSP licence.

2. From which location will Niyo operate under the new licence?

The licence is for operating from GIFT City, Gujarat.

3. Which type of licence did Niyo receive from IFSCA?

It is a Payment Service Provider licence.

This topic is part of Daily Current Affairs 10 September 2026 (31 topics).

All topics of the dayDay quizSeptember 2026

Read more