November 23, 2024 03:39 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
Cred gets RBI's in-principle approval to operate as payment aggregator
Photo courtesy: UNI

Cred gets RBI's in-principle approval to operate as payment aggregator

| @indiablooms | 20 Apr 2024, 12:55 am

Mumbai: Bengaluru headquartered firm Cred, a top third-party app for credit card bill settlements in India, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment app, said media reports.

The startup also operates a range of other products and services including a modest e-commerce platform, vehicle management services, and a curated travel package platform.

According to reports, the company valued at $ 6.4 billion received the approval this week.

In February, CRED forayed into the wealth management sector by acquiring Kuvera, an online platform, said reports.

This strategic move positions the company to directly contend with established players such as Zerodha and Groww in the wealth management sector.tum

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.