RBI gives payment aggregators another window till Sep to apply for licence

PAs should have a minimum net worth of Rs 15 crore as on March 31, 2022

The Reserve Bank of India (RBI) has allowed another window to payment aggregators (PAs) existing as of March 2020 to apply to the central bank for a licence. PAs could now apply for a licence by September 30, 2022, and should have a minimum net worth of Rs 15 crore as on March 31, 2022, RBI said in a release on Thursday.

“Keeping in view the disruption caused by the Covid-19 pandemic, and to ensure smooth functioning of the payments ecosystem, it has been decided to allow another window to all such PAs (existing as on March 17, 2020) to apply