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Paytm secures RBI nod for payment aggregator licence after AntFin's exit
"We would like to inform you that RBI has granted 'in-principle' authorisation to PPSL... to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007," the company stated in a BSE filing.
Background to the approval
The RBI had last year rejected Paytm's application for a payment aggregator licence, citing non-compliance with foreign direct investment (FDI) norms, and directed the company to meet regulatory requirements before reapplying.
The latest development comes after China's Ant Financial exited the company last week, selling its entire 5.84 per cent stake for around ₹3,803 crore, thereby reducing Chinese ownership in the company to zero.
Regulatory history
Last year, the company said it had received FDI approval from the Ministry of Finance and would resubmit its application for the payment aggregator licence.
One 97 Communications has previously faced regulatory scrutiny. In January 2024, the RBI ordered Paytm Payments Bank to halt the onboarding of new customers, citing concerns over its compliance with banking regulations.
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