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Question

Which financial services firm has received provisional approval from the RBI to operate as an online payment aggregator?
  • PhonePe
  • BharatPe
  • MobiKwik
  • PayU
Answer- B
BharatPe, a fintech startup valued at over a billion dollars, has been granted preliminary approval by the Reserve Bank of India to function as an online payment aggregator. This puts BharatPe in the same category as other fintech platforms like Open, Infibeam, Cashfree, Paysharp, and Worldline ePayments, which have already obtained similar approvals.