Ebix share price continued its sharp upward momentum on Tuesday, 25 August, locking in a 5% upper circuit at ₹22.02. The stock has now hit the upper circuit for six consecutive trading sessions, rebounding strongly from its fresh 52-week low of ₹16.15 touched on 18 August.
The sustained rally has seen Ebix shares climb over 36% from their recent low, with investors closely tracking the stock’s sharp turnaround.
Ebix share price today opened at an intraday low of ₹22 apiece on the BSE, the stock touched an intraday high of ₹22.02 per share.
Ebix, NSDL Payments Bank issue over 1 crore NCMC RuPay cards in five months
Last week, Ebix and its distribution division, Ebix Payment Services, in partnership with NDSL payment banks, have issued over one crore NCMC RuPay smartcards in just five months, averaging approximately 66,000 cards daily, or around 46 every minute, consistently without interruption. This is one of the quickest issuance rates recorded by a financial institution within the RuPay network in India.
As digital payments and public transport systems become increasingly interconnected, interoperable and contactless payment solutions are gaining wider adoption across India. The RuPay National Common Mobility Card (NCMC) ecosystem is playing a key role in this transition by allowing users to access multiple mobility and payment services through a single smart card.
Against this backdrop, Ebix, along with its distribution arm Ebix Payment Services and NSDL Payments Bank, has registered more than one crore NCMC RuPay smart cards within five months. This translates to an average issuance rate of around 66,000 cards a day, or nearly 46 cards every minute, placing the run among the fastest recorded issuance programmes on the RuPay network in India.
The cards are being used by concessional passengers of a state transport corporation, including students, senior citizens, persons with disabilities, freedom fighters and other eligible categories. Issued in partnership with NSDL Payments Bank, the NCMC cards are now being used for daily travel across the Maharashtra State Road Transport Corporation (MSRTC) network.
EbixCash World Money becomes first non-bank entity to receive RBI approval for trade remittances
Meanwhile, Ebix recently announced another significant development in its payments business. Its flagship payments subsidiary, EbixCash World Money Limited, received approval from the Reserve Bank of India (RBI) to undertake trade remittances, making it the first non-bank institution in India to receive such approval.
The approval expands the scope of EbixCash World Money’s existing perpetual Authorised Dealer Category-II (AD-II) licence and allows the company to undertake trade remittances in accordance with the regulatory framework prescribed under the Foreign Exchange Management Act (FEMA) and RBI guidelines.
The move broadens the company’s regulated cross-border payments portfolio and enables it to participate in a segment of payment services traditionally dominated by banking institutions.
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