The Reserve Bank of India authorised CRED to operate as

Q: Answer-The Reserve Bank of India authorised CRED to operate as a Payment Aggregator under which Act?

RBI granted authorisation to CRED operated by Dreamplug Technologies Pvt Ltd to function as a Payment Aggregator under the Payment and Settlement Systems Act, 2007, enabling it to directly onboard merchants and manage payment flows.

a Payment Aggregator under which Act?

A Banking Regulation Act, 1949 Correct Answer Incorrect Answer

B Companies Act, 2013 Correct Answer Incorrect Answer

C Payment and Settlement Systems Act, 2007 Correct Answer Incorrect Answer

D RBI Act, 1934 Correct Answer Incorrect Answer

E Information Technology Act, 2000 Correct Answer Incorrect Answer

Solution

RBI granted authorisation to CRED (operated by Dreamplug Technologies Pvt Ltd) to function as a Payment Aggregator under the Payment and Settlement Systems Act, 2007, enabling it to directly onboard merchants and manage payment flows.

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