CAMS receives in-principle authorisation to operate as a Payment Aggregator

Computer Age Management Services Limited has received the In-Principle authorisation dated 14th February, 2023 from Reserve Bank of India to operate as a Payment Aggregator ("Authorization") under the Payment and Settlement Systems Act, 2007.

As a specialized payment aggregator to the BFSI segment, the Company has been offering personalized payment options to meet different use cases for Mutual Fund investors and Insurance policyholders for over a decade.

The application for issue of the authorisation was made by the company under the "Guidelines on Regulation of Payment Aggregators and Payment Gateways." which was issued vide RBI Circulars dated 17th March 2020 and 31st March 2021. The authorisation is also subject to the adherance of the above circulars and other conditions as stipulated in the letter.

Shares of Computer Age Management Services Limited was last trading in BSE at Rs. 2301.30 as compared to the previous close of Rs. 2265.50. The total number of shares traded during the day was 5258 in over 706 trades.

The stock hit an intraday high of Rs. 2305.00 and intraday low of 2245.00. The net turnover during the day was Rs. 12047580.00.

Source : Equity Bulls

Keywords

ComputerAgeManagementServices INE596I01012 CAMS RBI InprincipleAuthorisation PaymentAggregator