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?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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