The central bank had turned down the firm's application citing complex corporate structure post which PayU had to pause onboarding new merchants for its online payment aggregation business.
India Business News: PayU Payments, supported by Prosus, obtains RBI's in-principle approval, emphasizing compliance and governance. It operates as a payment gateway, offe
Last year, the RBI returned the fintech firm’s application to operate as a payment aggregator due to its complex corporate structure and directed it to reapply.
Prosus-backed PayU Payments said on Tuesday it had received the Reserve Bank of India s in-principle approval to operate as a payment aggregator and onboard new merchants onto its platform. .
Netherlands-based PayU plans to ask for regulatory approval in February for an initial public offering worth at least $500 million in India, three people with ..