Transcorp International Gains RBI Nod for Centralized Payment Systems

Transcorp International Limited has secured in-principle approval from the RBI to participate in Centralized Payment Systems, enhancing its digital payments infrastructure. This marks a pivotal advancement in its service capabilities, allowing operation of a bank account at the RBI and allocation of an IFSC Code.

Transcorp International Limited, headquartered in Jaipur, Rajasthan, has achieved a significant milestone by receiving in-principle approval from the Reserve Bank of India (RBI). This authorizes Transcorp to engage in Centralized Payment Systems (CPS), a move traditionally reserved for banks.

This development permits Transcorp to operate a bank account at the RBI and be assigned its own IFSC Code, boosting the company's digital payments infrastructure. The Board of Directors has acknowledged the company's strategic shift towards building robust, regulator-compliant platforms.

Transcorp's financial performance reflects increased profitability, driven by disciplined financial management and minimum average debt utilization. The firm continues to excel in digital payments, achieving record transaction volumes and focusing on fintech partnerships and financial inclusion.