RBI issues payment aggregator licence to Paytm Payments Services
'We would like to inform you that Reserve Bank of India has granted 'in-principle' authorisation to PPSL vide its letter ....dated August 12, 2025, to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007,' OCL said in a filing with exchanges.
The approval only covers online aggregator operations and does not extend to other payment activities outside the scope of RBI guidelines.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
40 minutes ago
- Economic Times
RBI panel submits report on framework for AI use to foster innovation and mitigate risks in financial sector
Synopsis The Reserve Bank of India has introduced a framework for the responsible and ethical integration of Artificial Intelligence in the financial sector. Anchored by seven core principles, the framework includes twenty-six recommendations across six strategic pillars. This initiative follows surveys and stakeholder consultations aimed at understanding AI adoption and challenges within the financial industry. Reuters As Artificial Intelligence enters everyday life, the Reserve Bank of India's panel on Wednesday submitted its report on framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector. "The framework is anchored in seven sutras which serve as the foundational principles and is operationalised through twenty-six targeted recommendations under six strategic pillars," said RBI in its document. "In order to encourage the responsible and ethical adoption of AI in the financial sector, the FREE-AI Committee was constituted by the Reserve Bank of India. The RBI conducted two surveys to understand current AI adoption and challenges in the financial sector. The Committee referenced these surveys and, in addition, undertook extensive stakeholder consultations to gain further insights," said the RBI panel's document. The Committee formulated 7 Sutras that represent the core principles to guide AI adoption in the financial sector. These are: (i) Trust is the Foundation (ii) People First (iii) Innovation over Restraint (iv) Fairness and Equity (v) Accountability (vi) Understandable by Design (vii) Safety, Resilience and Sustainability
Time of India
an hour ago
- Time of India
RBI panel submits report on framework for AI use to foster innovation and mitigate risks in financial sector
As Artificial Intelligence enters everyday life, the Reserve Bank of India 's panel on Wednesday submitted its report on framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector. "The framework is anchored in seven sutras which serve as the foundational principles and is operationalised through twenty-six targeted recommendations under six strategic pillars," said RBI in its document. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program "In order to encourage the responsible and ethical adoption of AI in the financial sector, the FREE-AI Committee was constituted by the Reserve Bank of India. The RBI conducted two surveys to understand current AI adoption and challenges in the financial sector. The Committee referenced these surveys and, in addition, undertook extensive stakeholder consultations to gain further insights," said the RBI panel's document. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo The Committee formulated 7 Sutras that represent the core principles to guide AI adoption in the financial sector. These are: (i) Trust is the Foundation Live Events (ii) People First (iii) Innovation over Restraint (iv) Fairness and Equity (v) Accountability (vi) Understandable by Design (vii) Safety, Resilience and Sustainability
India Today
2 hours ago
- India Today
Maharashtra, Kerala, Andhra Pradesh top in education loans, SBI leads lending race
Maharashtra, Kerala, Andhra Pradesh and Tamil Nadu have emerged as the leading states in public sector bank (PSB) education loan disbursals over the last three financial years, according to Reserve Bank of India (RBI) data shared in the Rajya FY 2022-23 and 2024-25 (provisional), Maharashtra recorded Rs 11,426.47 crore in sanctioned education loans, followed by Kerala with Rs 8,937.78 crore, Andhra Pradesh at Rs 8,101.06 crore, and Tamil Nadu at Rs 7,198.63 figures were presented in a written reply to a question by MP Neeraj Shekhar. At the other end, Lakshadweep, Mizoram, Arunachal Pradesh and Nagaland saw the lowest loan disbursals, with amounts ranging from Rs 0.17 crore to Rs 19.76 EDUCATION LOAN DISBURSALS (FY 2022–23 to 2024–25)RankState/UTAmount Disbursed (Rs Crore)1Maharashtra11426.472Kerala8937.783Andhra Pradesh8101.064Tamil Nadu7198.635Telangana6178.60.........36Lakshadweep0.17SBI MAINTAINS TOP POSITION AMONG BANKSAmong PSBs, the State Bank of India emerged as the largest lender, disbursing Rs 32,311.02 crore in education loans during the same three-year period. Union Bank of India followed with Rs 14,558.77 crore, and Bank of Baroda came third at Rs 8,468.53 and Sind Bank reported the lowest disbursal amongst PSBs, at Rs 542.42 EDUCATION LOAN DISBURSALS (FY 2022–23 to 2024–25)BankAmount Disbursed (Rs Crore)State Bank of India32311.02Union Bank of India14558.77Bank of Baroda8468.53Canara Bank7094.19Punjab National and Sind Bank542.42REPAYMENT TRENDS AND NPA LEVELSRBI data also revealed patterns in gross non-performing assets (GNPAs) for education loans. While several banks saw a decline in NPA levels, amounts remain substantial for some GNPAs stayed relatively stable, moving from Rs 372 crore in 2023 to Rs 382 crore in 2024, and Rs 336 crore in provisional 2025 GNPA FIGURES (Education Loans)Bank2023 GNPA (Rs Crore)2024 GNPA (Rs Crore)2025 GNPA* (Rs Crore)State Bank of India372382336Union Bank of India637644336Bank of Baroda6398121Canara Bank843789322Punjab National Bank893733431............2025 data STATES DRIVE DEMANDThe data highlights that the highest demand for education loans comes from southern states, attributed to high enrolment in professional courses and overseas study NPA levels suggest improved repayment behaviour, though lenders continue to face significant outstanding amounts in the education loan segment.- Ends
