Computer Age Management Services (CAMS) said that it has received in-principle approval from Reserve Bank of India to operate as a payment aggregator.
As a specialized payment aggregator to the BFSI segment, the company has been offering personalized payment options to meet different use cases for mutual fund investors and insurance policyholders for over a decade.Computer Age Management Services is India's largest mutual fund transfer agency serving over 69% of assets of the Indian mutual fund industry. As an integral part of the India's financial infrastructure, CAMS has built a reputation as the leading transfer agency to the asset management industry of India and technology enabled service solutions partner to private equity funds, banks and non-banking finance companies.
The company's consolidated net profit fell 4.6% to Rs 73.72 crore despite of 2.5% rise in net sales to Rs 243.57 crore in Q3 FY23 over Q3 FY22.
The scrip rose 0.75% to Rs 2,282.50 on the BSE.
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