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The Reserve Bank of India (RBI) on Wednesday said it has granted in-principle approval to 32 existing payment aggregators, allowing them to continue their operations.
The RBI answers FAQs clarifying many provisions in the digital lending guidelines issued in September 2022 applicable to lending apps
Applications of 18 existing payment aggregators, including Bhartipay and PhonePe, are under process, the RBI said.
Paymate India, Razorpay Software, and Zomato Payments are among the PAs that have been granted in-principle authorisation
RBI said that the current application status of payment aggregators who are in the ongoing process will be updated on a fortnightly basis for more transparency.