Shares of Infibeam Avenues Ltd rose after the Indian digital payments company said on Tuesday that it has received an in-principle approval from the Reserve Bank of India (RBI) to issue prepaid payment instruments (PPIs) under the Payment and Settlement Systems Act, 2007.

The company's shares closed at a price of ₹ 19.12 on the NSE, 1.9% higher than its last closing level.

PPIs are financial tools, like digital wallets, smart cards, and gift cards, that store monetary value to make purchases without a direct bank account link at the time of the transaction. Users load money onto the instrument in advance to buy goods and services, transfer funds, or pay bills.

The approval was granted through a letter dated Oct 27, allowing the company to begin preparations for launching prepaid pay

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