In under three months of filing for bankruptcy in the US, Ebix has reportedly initiated the sale of its Indian operations. The decision to divest EbixCash comes as there are limited or no prospects for listing the Indian operations. Sources also add that with the US unit swamped in bankruptcy, EbixCash has the risk of losing its remittance licences as well. Tough dealAccording to sources, three key players in the fintech and non-banking space had evinced interest in EbixCash. The hesitation around EbixCash is despite the company holding a leadership position in inward money remittance, travel and forex businesses.

Source: The Hindu March 10, 2024 23:50 UTC