Nearby search engine Just Dial said on Thursday it has on a basic level gesture from the Reserve Bank of India (RBI) for propelling its prepaid wallet.
"The organization has gotten a letter dated September 6, 2016, from Reserve Bank of lndia conceding on a fundamental level endorsement for issuing and working installment framework for semi shut prepaid installment instrument administration," Just Dial said in a BSE recording.
Explaining on the pertinence of the endorsement, it said: "The organization will be in position for giving installment answer for our clients, which is essential piece of our exchange administrations and JD prepaid wallet will give a consistent installment experience to clients.
" Just Dial added that it needs to present certain reports to RBI up to March 05, 2017 for definite authorisation. Shares of Just Dial were exchanging 2.02% down at Rs 498.85 on BSE.