IRCTC to approach RBI for a Payment Aggregator License

The Indian Railway Catering and Tourism Corporation (IRCTC) plans to enter the payment aggregator space and has plans to approach Reserve Bank of India for an aggregator license.

According to BusinessLine, IRCTC, a railway public sector undertaking (of Indian Railways), recently received approval from the Registrar of Companies, NCT Delhi and Haryana, and is now being asked to replace the'main objects clause' in its memorandum of association (MoA) with a new clause in order to perform as a payment aggregator. Following that, IRCTC will be fully prepared to enter the Indian digital payment sector, approaching the RBI for a payment aggregator license.

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