Zomato gets RBI nod to operate as online payment aggregator

Daily Current Affairs / Zomato gets RBI nod to operate as online payment aggregator

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Category : Business and economics Published on: January 31 2024

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Zomato Payment Pvt Ltd (ZPPL), a wholly-owned subsidiary of Zomato Limited, has received approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
The approval was granted on January 24, 2024, as per the guidelines issued by the RBI.
ZPPL was incorporated by the food delivery platform Zomato Limited in August 2021.
Initially, ZPPL had an initial subscription of 10,000 equity shares of Rs 10 each, aggregating to Rs 1,00,000.

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Zomato gets RBI nod to operate as online payment aggregator