CURRENT AFFAIRS

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which bank asked Razorpay to pause onboarding new merchants?

A	ICICI
B	SBI
C	BOB
D	RBI

Explanation:

Detailed explanation-1: -Along with Razorpay, the central bank reportedly also asked Stripe and Cashfree Payments to stop onboarding new merchants. However, Stripe denied receiving any such communication from the RBI.

Detailed explanation-2: -The Reserve Bank of India (RBI) has asked multiple payment gateways, including Razorpay, which had received the regulator’s in-principle nod for a payment-aggregator licence, to stop onboarding new merchants, multiple people aware of the development told ET.

Detailed explanation-3: -Existing entities who can operate as online payment aggregators. Amazon (Pay) India Pvt Ltd, Paymate India Ltd, Razorpay Software Pvt Ltd, Pine Labs Pvt Ltd, and Zomato Payments Pvt Ltd are among the 32 existing payment aggregators that have been granted in-principle authorization.

There is 1 question to complete.