Paytm Payments Services Limited has received in-principle authorisation from the Reserve Bank of India for a prepaid payment instrument business, including wallets. The approval is a step towards offering the service, not a launch clearance: the company still needs final RBI authorisation before it can issue these instruments.
One97 Communications disclosed the development in a stock exchange filing dated November 13, 2026, attaching the RBI’s letter. The recipient is its wholly owned subsidiary Paytm Payments Services Limited, or PPSL.
What has the RBI approved?
The in-principle authorisation allows PPSL to set up and operate a payment system for prepaid payment instruments in India, subject to the RBI’s applicable directions. The filing says instruments such as wallets can be offered to customers after final authorisation or a Certificate of Authorisation is granted.
That distinction matters. An approval to move through the regulatory process should not be read as confirmation that a new wallet service is already available.
What must happen before launch?
The RBI letter requires a system audit, including cybersecurity checks, by an eligible auditor. PPSL must submit the audit report to the regulator within six months of the November 13 letter. If it does not, the in-principle authorisation will lapse automatically and final authorisation will not be considered thereafter, the letter states.
The letter also refers to compliance with payment-system data storage requirements and the rules governing changes in ownership or control. Issuance of prepaid payment instruments can begin only after final authorisation.
What does this mean for customers?
The filing does not announce a customer launch date, wallet features or a rollout timetable. Readers should wait for confirmed service availability rather than assume the preliminary approval means wallets have launched.
The next milestone to watch is final RBI authorisation. Any subsequent launch announcement will need to be checked separately for availability and terms.
Source: One97 Communications’ November 13, 2026 stock exchange filing and annexed RBI letter. This report distinguishes in-principle approval from final authorisation and does not give investment advice.
