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As per RBI’s new guidelines for Payment Aggregators (PAs), what is the minimum net worth required for entities to be set up as PAs (earlier it was 100 crore)?
  • a)
    50 Crore
  • b)
    25 Crore
  • c)
    30 Crore
  • d)
    10 Crore
  • e)
    15 Crore
Correct answer is option 'E'. Can you explain this answer?
Verified Answer
As per RBI’s new guidelines for Payment Aggregators (PAs), what ...
Reserve Bank of India (RBI) has issued new guidelines for the payment aggregators (PAs) to provide an ease for payments industry players with effect from April 1, 2020. The guidelines are issued under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007. RBI has reduced the minimum capital requirements (MCR) for PAs at the time of application for the licence to Rs 15 crore from Rs 100 crore. However, the net worth needs to be increased to Rs 25 crore within three years of operations. Means the PAs who apply for authorisation on 01/04/2020 they need to achieve Rs 25 cr net-worth by March 31, 2023, and thereafter.
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