As reported in May 2025, which of the following banks of India provided in-principle approval to PayPal and Worldline to operate as cross-border payment aggregators in India?
Understanding the Regulatory Approval Process
In India, the Reserve Bank of India (RBI) is the central banking institution responsible for regulating the country's currency, monetary policy, and financial systems, including payment services.
The RBI grants approvals and licenses for entities wanting to operate specific financial services within India.
Cross-Border Payment Aggregators Approval
- As reported in May 2025, the Reserve Bank of India (RBI) granted in-principle approval.
- This approval allows PayPal and Worldline to operate as cross-border payment aggregators in India.
- This move facilitates international payment processing for businesses operating in India.
Therefore, the Reserve Bank of India is the entity that provided the approval.
Important Questions from RBI
- Who took over as the Deputy Governor of the Reserve Bank of India in May 2025?
- With which of the following government bodies, did the Reserve Bank of India (RBI) collaborate in June 2025 to curb spam loan and credit-card calls?
- When did the Reserve Bank of India make its first repo rate cut since May 2020?
- In April 2025, the Reserve Bank of India (RBI) mandated banks to move to the '.bank.in' domain by ________.
What is the name of the new regulatory body formed by the Reserve Bank of India in May 2025 to supervise India's payment systems?
