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DMI Finance acquires wallet service provider Oxymoney’s parent firm

  • 28 Mar 2022
  • Post Views: 1008

Oxymoney plans rolling out pre-paid cards and expand its distribution network.

BY BUSINESS STANDARD • MAR 28, 2022

DMI Finance has acquired a controlling stake in Prepaid Payment Instruments (PPI) company Appnit Technologies Private Ltd, which owns wallet services provider Oxymoney.

DMI Finance did not reveal the acquisition cost and stake it will hold in Appnit. Oxymoney plans rolling out pre-paid cards and expand its distribution network. Appnit holds a PPI license from the Reserve Bank of India.

Oxymoney provides services including various wallet services, money transfers, AePS, utility bill payments, and micro ATMs, through its distribution network across India.

Source: Business Standard

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This is to inform that DMI Housing Finance Private Limited (“DMIHFC/Company”) has paid a penalty of Rs.23,55,000/- (Rupees Twenty Three Lakh Fifty Five Thousand Only) plus applicable taxes within prescribed timeline as laid down by National Housing Bank (“NHB”) vide letter bearing reference no.NHB(ND)/HFC/DOS/Sup.(Insp)/OUT00871/2021 dated February 25, 2021 with respect to the observations as mentioned in Inspection of DMI Housing Finance Private Limited conducted as per provisions of the NHB Act, 1987- for 31-03-2019 & 31-03-2020

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