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BusinessFintech firm receives preliminary nod from RBI to expand digital payments reach

Fintech firm receives preliminary nod from RBI to expand digital payments reach


One of the leading payment solutions company has been granted an initial approval to expand its operations in the country's rapidly growing digital transactions space. The Reserve Bank of (RBI) has given an in-principle nod to the Prosus Group owned firm to function as a payment aggregator, enabling it to enroll new merchants and contribute to the goal of financial inclusion.

Earlier this year, the central bank had requested the company to resubmit its application after reviewing it, within a 120 day period. With the preliminary license now acquired, the organization can aggressively pursue its mission of facilitating convenient and secure payment options for merchants across various sectors. An official spokesperson said they are committed to driving digital revolution and catering to the needs of small enterprises through their innovative offerings.

As per sources, nearly 10 lakh students appeared for exams held last month to determine intermediate results which are expected next week. The pass percentage last year was around 63%, while this year's statistics will be announced shortly. Students not satisfied with scores can seek re-evaluation or appear for supplementary tests according expected procedures.

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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