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RBI gives payment aggregators another window till Sep to apply for licence

PAs should have a minimum net worth of Rs 15 crore as on March 31, 2022

Mumbai: A security personal outside Reserve Bank of India (RBI) headquarters, in Mumbai, Wednesday, June 8, 2022. (PTI Photo
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Subrata Panda Mumbai
The Reserve Bank of India (RBI) has allowed another window to payment aggregators (PAs) existing as of March 2020 to apply to the central bank for a licence. PAs could now apply for a licence by September 30, 2022, and should have a minimum net worth of Rs 15 crore as on March 31, 2022, RBI said in a release on Thursday.

“Keeping in view the disruption caused by the Covid-19 pandemic, and to ensure smooth functioning of the payments ecosystem, it has been decided to allow another window to all such PAs (existing as on March 17, 2020) to apply

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First Published: Jul 28 2022 | 9:01 PM IST

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