RBI has granted ‘in-principle’ authorisation to IRCTC Payments Limited, the fintech subsidiary of Indian Railway Catering and Tourism Corporation (IRCTC), to operate as an online payment aggregator (PA)
The nod from the central bank will allow IRCTC Payments to facilitate online transactions between customers and merchants
The PSU had been eyeing an entrance in the payments ecosystem since 2022 when it was planning to approach RBI for an aggregator license in September
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