Reserve Bank of India (RBI) authorises ZikZuk Technologies as PPI Issuer

Exam-focused facts from the 24 May 2026 current affairs briefing.

Key facts

The Reserve Bank of India (RBI) has granted final authorisation to Hyderabad-based ZikZuk Technologies Private Limited to operate as a Prepaid Payment Instrument (PPI) Issuer.
The authorisation was issued under the Payment and Settlement Systems Act, 2007.
ZikZuk Technologies is authorised to provide General Purpose PPIs, which include Full-KYC and Small PPIs.
The company can issue Special Purpose PPIs, including Gift PPIs, Transit PPIs for public transport (metro, bus, rail, and toll payments), and PPIs for Foreign Nationals and Non-Resident Indians (NRIs) visiting India under the UPI One World framework.
The company is positioned to develop regulated payment products such as digital wallets, prepaid cards, and stored-value solutions under the oversight of the RBI.