Question
Which financial entity received approval from the Reserve Bank of India to operate as a Payment Aggregator-Cross Border for both imports and exports?
Solution
Cashfree Payments India Private Limited secured a Payment Aggregator Cross Border license from the RBI, enabling it to manage cross-border payment transactions related to the import and export of permissible goods and services. This approval positions Cashfree Payments as a pioneering non-bank financial institution in this sector.
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