India, July 4 -- Listed logistics major BlackBuck parent Zinka Logistics' subsidiary has secured a prepaid paid instruments (PPI) licence from the Reserve Bank Of India (RBI).

In an exchange filing today, the company said that the central bank granted the licence to TZF Logistics Solutions Pvt Ltd, its wholly owned subsidiary.

Under the Payment and Settlement Systems Act, 2007, a licence is necessary for banks and non-banks to issue PPIs.

For context, PPIs facilitate purchase of goods and services, conduct of financial services, enable remittance facilities, and more, against the value stored therein.

"The license will help TZF Logistics Solutions Pvt Ltd, wholly owned subsidiary of the company set up and operate a payment system for ...