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RBI Nod for RNFI Payment Aggregator and ICICI Pru AMC Stake in CSB

10 September 20261 min read
BANKING & FINANCERBI Nod for RNFIPayment Aggregatorand ICICI Pru AMCStake in CSB10 September 2026safalsetu.com

Why in the news

RBI announced approvals covering a physical payment aggregator, a subsidiary of PB Fintech and a stake purchase in a private bank.

Key facts

  • PA-P: RNFI Services Ltd. holds in-principle authorisation and can offer in-store payment services via its distribution network.
  • PB Pay, under PB Fintech, started commercial operations after RBI authorisation as a Payment Aggregator.
  • CSB Bank: ICICI Prudential AMC may take up to 9.95% of paid-up share capital or voting rights.
EntityRBI action
RNFI Services Ltd.In-principle authorisation as PA-P
PB Pay Private LimitedCommercial operations as Payment Aggregator
ICICI Prudential AMCAllowed up to 9.95% in CSB Bank

Exam angle

  • Abbreviation: PA-P = Payment Aggregator-Physical.
  • Stake ceiling approved in CSB Bank: 9.95%.
  • Regulator for all three approvals: RBI.

Test yourself

1. What does PA-P stand for in the RBI authorisation given to RNFI Services Ltd.?

PA-P means Payment Aggregator-Physical.

2. RBI approved ICICI Prudential AMC acquiring up to what share in CSB Bank?

The approval was for up to 9.95% of CSB Bank.

3. PB Pay Private Limited, which began operations as a Payment Aggregator, is a subsidiary of which firm?

PB Pay is a subsidiary of PB Fintech.

This topic is part of Daily Current Affairs 10 September 2026 (31 topics).

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