Tata Communications Secures RBI Approval to Sell ATM Business to Findi

In a significant move, Tata Communications has received approval from the Reserve Bank of India (RBI) to divest its entire stake in Tata Communications Payment Solutions Ltd (TCPSL) to Australian fintech firm Findi. Valued at ₹330 crore, with an additional ₹75 crore contingent on interchange rate adjustments, this acquisition will enhance Findi's footprint in India's financial services sector. The deal, initially announced in November 2024, allows Findi to integrate over 4,600 Indicash ATMs, expanding its network to over 12,000 ATMs and bolstering its mission to serve the underbanked population.
Source: Times of India, ListCorp