This comes a 12 months after Paytm stated that its funds arm would re-apply for a PA licence

Paytm Funds Companies Restricted acquired in-principle authorisation approval from the RBI

Shares of the fintech main closed 0.2% decrease at INR 1.119.95 on the BSE at present

The Reserve Financial institution of India (RBI) has granted in-principle authorisation to fintech main Paytm’s subsidiary, Paytm Funds Companies Restricted (PPSL), to function as a cost aggregator (PA).

“We want to inform you that Reserve Financial institution of India (“RBI”) has granted ‘in-principle’ authorisation to PPSL… to function as a web-based cost aggregator beneath the Cost and Settlement Methods Act, 2007,” the corporate stated in an alternate submitting. 

This comes a 12 months after Paytm acquired approval from the Centre to put money into PPSL. On the time, the corporate stated that it will re-apply for a PA licence.

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