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Tuesday, July 5, 2022

RBI approval is required for mergers and acquisitions by payment operators


Payment operators need RBI nod for M&A

 MUMBAI: The RBI has said that non-bank installment framework administrators (PSOs) will require earlier consent before a takeover of any organization or move of installment action.


"The tasks of non-bank PSOs have been checked on and they will expect earlier in the accompanying cases - takeover/obtaining of control, deal/move of installment action to an element not approved for undertaking comparable action," RBI said in a notice.


The RBI has enlisted almost 70 PSOs including Clearing Corporation of India, NPCI, card and ATM organizations, prepaid instrument guarantors, moment cash move elements and substances enrolled as working units under Bharat Bill Pay. Enlisted organizations incorporate elements like PayU, PhonePe, Sodexo, Amazon Pe and Ingenico.

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