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Vodafone M-Pesa seeks extension of its PPI license while simultaneously evaluating merger options

May 14, 2019
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Vodafone M-Pesa Limited (VMPL) has sought further extension of its prepaid payment instrument (PPI) license from Reserve Bank of India (RBI).

Meanwhile, the company is also considering merging its business with an associate company or a third party.

This decision is prompted by the fact that Vodafone Idea has 100 per cent ownership VMPL in addition to 49 per cent shareholding in Aditya Birla Idea Payments Bank Limited (ABIPBL). However, as per RBI guidelines, the same promoter group, in this case Vodafone Idea, cannot have a payments banking business in one entity and PPI business in another entity.

 

 
 
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