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).
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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.
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