Over 50 entities get in-principle approval for PA license; 28 under review

32 of those granted interim nod were already operating as online payments aggregators, 19 are new to the business

The Reserve Bank of India (RBI) has granted in-principle approval to over 50 entities for a payment aggregator’s license so far, while 28 applications are still under review, the central bank said on Wednesday, when it published the list of entities that applied for the license.

Of the 50-odd entities that have received in-principle authorisation from the central bank, as many as 32 have already been operating as online PAs, while 19 are new to the business.

RBI has advised consumers to deal with only existing PAs who have been granted in-principle authorisation or whose application is under process. They