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    Question

    The Reserve Bank of India authorised CRED to operate as

    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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