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ZikZuk RBI In-Principle Nod for Prepaid Payment Instruments

21 May 20251 min read
BANKING & FINANCEZikZuk RBIIn-Principle Nod forPrepaid PaymentInstruments21 May 2025safalsetu.com

Why in the news

RBI gave Hyderabad fintech ZikZuk in-principle permission in May 2025 to issue prepaid payment instruments.

Key facts

  • Approval: in-principle authorisation for PPIs; products: prepaid wallets and card-based solutions.
  • PPIs: store value digitally for purchases, bills and remittances.
  • RBI allows PPI use for UPI via third-party apps such as Google Pay, PhonePe and Amazon Pay.

Significance

  • ZikZuk joins players like PhonePe, Paytm and MobiKwik, adding innovation to digital payments.
  • Shows RBI’s backing for new-age fintechs.

Exam angle

  • PPI = Prepaid Payment Instrument; regulator: RBI.

Test yourself

1. ZikZuk received in-principle authorisation from which regulator?

RBI authorised ZikZuk to issue PPIs.

2. What does PPI stand for in the ZikZuk approval?

PPI means Prepaid Payment Instruments.

3. ZikZuk, the fintech granted RBI in-principle PPI approval, is based in which city?

The notes describe it as Hyderabad-based.

This topic is part of Daily Current Affairs 21 May 2025 (20 topics).

All topics of the dayDay quizMay 2025

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