Suvidhaa Infoserve applies for payment bank licence

Suvidhaa Infoserve Ltd, the flagship company of the Rs 6,500-crore e-commerce group Suvidhaa, has joined the select bandwagon by applying to RBI for payment bank licence.
"Suvidhaa is the largest non-bank entity offering domestic remittance service and other payment services in India. We have now applied for the payment bank licence with the RBI," Suvidhaa Chairman Paresh Rajde said in a statement here.
As of now, RBI has received 41 payments bank applications and final decision will be taken by RBI very soon. Payments banks are supposed to provide services including remittance and money transfer services to migrant workers, unorganised sector labourers, self-employed persons, small traders and businessmen, etc.

Mumbai-based Suvidhaa has a footprint of 80,000 touch points across the country offering neighbourhood convenience to over 28 million unique customers annually.