Categories: Banking

BharatPe Gets in-principle nod from RBI to Operate as Online Payment Aggregator

Fintech platform BharatPe said it has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). The company said that an in-principle nod was awarded to Resilient Payments Private Ltd, a 100 percent subsidiary of Resilient Innovations Private Ltd (BharatPe).

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

More About This Development:

RBI’s nod comes amid a slew of high profile exits the Sequoia Capital and Tiger Global-backed firm, which has been battling controversies since last year. It is currently fighting a court battle with its former co-founder Ashneer Grover alleging financial misappropriation. Grover was ousted last year in March.

About the payment aggregator framework:

  • Payment aggregators are entities that facilitate e-commerce sites and merchants to accept various payment instruments from the customers. The merchants do not need to create a separate payment integration system of their own.
  • The payment aggregator framework, introduced formally in March 2020, mandates that only firms approved by the RBI can acquire and offer payment services to merchants. RBI has been strict in its evaluation of entities that have applied for the payment aggregator licence.
  • Multiple online payment gateways seeking the aggregator licence came under intense scrutiny from the central bank for – know-your-customer (KYC) related issues, past dealings with cryptocurrency exchanges and gaming apps, and for not complying with the net worth criteria that RBI had set out.
  • Some fintech firms like Razorpay, Pine Labs, Open, Cahfree, 1Pay have already received RBI approval for PA in the last few months. Over 185 fintech enterprises and startups which had submitted their proposals for a payment aggregator licence.

Piyush Shukla

Recent Posts

Weekly Current Affairs One Liners (6th to 12th July, 2026)

Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…

4 hours ago

FIFA World Cup 2026 Semifinals: Full Schedule, Fixtures, Qualified Teams & Road to the Final

The FIFA World Cup 2026 has entered the most dramatic and thrilling stage of the…

13 hours ago

Current Affairs Capsule PDF (11 July, 2026)

National News Centre of Excellence for Human Wildlife Conflict Management Inaugurated The Centre of Excellence…

1 day ago

Indian Air Force Ranked World’s 3rd Strongest Air Force in WDMMA 2026

For the fifth time a row, the Indian Air Force (IAF) has clinched the third…

1 day ago

One Million Women Lose Aid Access Due to Funding Cuts, UN Women Reports

According to a recent report by the UN Women agency, at least one million women…

1 day ago

India and New Zealand Sign 10 Agreements, Launch Strategic Partnership Roadmap to 2030

India and New Zealand have upgraded their relationship into a Strategic Partnership by launching an…

1 day ago