Revolut prepares for 2025 India launch

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Financial Times 11h ago

Revolut prepares for 2025 India launch - Financial Times

Quick Summary:

The fintech is also seeking to expand in the Middle East and has applied for e-money and remittance licences with the Central Bank of the United Arab Emirates, according to a person familiar with the application.

Revolut will now submit an audit report to the Reserve Bank of India next month with the aim of getting full authorisation after the tentative approval.

Fintechs have proliferated in India, catering to millions of its growing middle class who previously had limited access to formal banking services.