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      Question

      Paytm Payments Services Ltd. (PPSL) recently secured an

      in-principle Payment Aggregator (PA) licence from the RBI. Under which act was this approval granted? 
      A Companies Act, 2013 Correct Answer Incorrect Answer
      B Payment and Settlement Systems Act, 2007 Correct Answer Incorrect Answer
      C Banking Regulation Act, 1949 Correct Answer Incorrect Answer
      D Finance Act, 2023 Correct Answer Incorrect Answer
      E RBI Act, 1934 Correct Answer Incorrect Answer

      Solution

      The RBI granted the PA licence under the Payment and Settlement Systems Act, 2007. This law governs payment systems in India, ensuring secure transactions. PPSL, a subsidiary of One 97 Communications Ltd., will now facilitate merchant payments more efficiently. 

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