Friday, 24 March, 2023

RBI rejects 57 payment aggregator applications for lack of net worth and technical expertise

<p>The Reserve Bank of India (RBI) has rejected the applications of 57 companies that applied for the license of a payment aggregator. The applications were declined due to lack of sufficient net worth or technical expertise, or other issues related to the company&#39;s structure or governance. The RBI has been cautious in granting licenses to payment aggregators, and has been reviewing applications to ensure that they meet the necessary regulatory requirements.</p>