Paytm Payments Services Receives RBI In-Principle Approval for Wallet Operations

**Paytm Payments Services Limited (PPSL)**, a wholly-owned subsidiary of One97 Communications, has received **in-principle approval** from the Reserve Bank of India (**RBI**) on **November 13, 2026**, to operate as a prepaid payment instrument (PPI) provider for wallets.

Key Features / Major Points:

- Regulatory Guidelines & Compliance:

  - The approval is subject to compliance with RBI’s master directions on PPIs and recent cyber resilience and digital payment security controls.

  - PPSL has been advised to conduct a comprehensive "system audit," including a cybersecurity audit, before commencing operations.

  - Final issuance of PPIs can only occur after securing the final authorization certificate from the central bank.

- Background Context:

  - Paytm originally launched its wallet business in 2014 and later transferred it to Paytm Payments Bank in 2017. Following regulatory and compliance actions, PPBL's banking license was revoked by the RBI in April 2026.

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Static GK Facts:

- Reserve Bank of India (RBI):

  - Established: **April 1, 1935** (Hilton Young Commission recommendation).

  - Nationalized: **January 1, 1949** | Headquarters: **Mumbai, Maharashtra**.

  - Current Governor (26th): **Sanjay Malhotra** (assumed office December 11, 2024; Predecessor: Shaktikanta Das).

- Paytm:

  - Founded: **2010** | Founder: **Vijay Shekhar Sharma** | Headquarters: **Noida, Uttar Pradesh**.

One-Liner Quiz (All Competitive Exams):

Q: Which fintech subsidiary received in-principle approval from RBI for wallet operations in November 2026?

A: Paytm Payments Services Limited (PPSL)

Q: Who is the current and 26th Governor of the Reserve Bank of India (RBI)?

A: Sanjay Malhotra

Q: In which year was the Reserve Bank of India established?

A: 1935

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