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IRCTC set to enter payments sector, eyes aggregator license from RBI

At present, IRCTC already has I-PAY, its in-house payment gateway

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The IRCTC gateway will also function as a bill payment gateway to provide bill payment services for utility bills, fees and municipal taxes under the Bharat Bill Payment System (BBPS) guidelines

BS Web Team New Delhi
According to industry experts, the Indian Railway Catering and Tourism Corporation (IRCTC) can now apply with the Reserve Bank of India (RBI) for a license as a payment aggregator, BusinessLine reported.

IRCTC recently secured an approval from the Registrar of Companies, NCT, Delhi and Haryana to alter the Main Objects Clause of the Memorandum of Association and insert a new clause to act as a payment aggregator.

The Railway PSU is all set to take entry into the payments sector and is thus eyeing a payment aggregator license.

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First Published: Sep 19 2022 | 11:20 AM IST

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