EconomyTuesday, 26 May 2026·The Hindu
Skydo gets GIFT City PSP and RBI PA-CB approvals: fintech regulation facts
Skydo received in-principle approval for PSP operations at GIFT City and RBI PA-CB approval on 25 May 2026.
Key highlights
Direct fact
On 25 May 2026, Skydo received in-principle approval to operate as a Payment Service Provider (PSP) at GIFT City and regulatory approval under the RBI’s PA-CB framework.
Key specifics
- The approval applies to the International Financial Services Centre (IFSC) at GIFT City.
- Skydo is described as one of the first cross-border fintech firms to secure this licence.
- The firm had already secured final RBI authorisation for export collections earlier in 2026.
- GIFT City is India’s first operational smart city and IFSC, located in Gandhinagar, Gujarat.
- RBI was established on 1 April 1935 under the RBI Act, 1934, and was nationalised on 1 January 1949.
Exam lens
Question type: Banking and financial regulation MCQ, GIFT City, IFSC, RBI PA-CB, 1 April 1935; TNPSC may ask the location and regulatory significance of GIFT City.