Paytm Gets In-Principle Payment Aggregator Licence From RBI

The Reserve Bank of India (RBI) has granted in-principle authorisation to fintech major Paytm’s subsidiary, Paytm Payments Services Limited (PPSL), to operate as a payment aggregator (PA).

“We would like to inform you that Reserve Bank of India (“RBI”) has granted ‘in-principle’ authorisation to PPSL… to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007,” the company said in an exchange filing. 

This comes a year after Paytm received approval from the Centre to invest in PPSL. At the time, the company said that it would re-apply for a PA licence.

(This story will be updated soon)

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