Fintech start-up EnKash has got in-principle approval from RBI for payment aggregator's licence, the company said on Wednesday.

The licence will enable EnKash to broaden its product offerings to millions of businesses for digital transactions.

Founded in 2018, EnKash claims to have assisted one lakh businesses to digitise and decentralise their corporate payments.

"RBI's in-principle approval to EnKash reiterates the need for digital solutions to manage business cash flows in an efficient way to sustain growth and profitability. This will help us streamline the cash flow process for businesses where they will be able to seamlessly consolidate their all payable and receivable and make necessary actions around payments," EnKash co-founder Yadvendra Tyagi said.