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Archive for November, 2020

26 Nov
2020

Payment Aggregators and Payment Gateway – Escrow Account requirements modified.

Earlier this financial year, the Reserve Bank of India (“RBI”) vide its notification dated March 17, 2020 and with effect from April 1,2020 began regulating the activities of Payment Aggregators (“PAs”) and Payment Gateways (“PGs”) (“Regulation”).  Our legal update on the foregoing may be accessed at : http://aplaw.in/now-regulated-payment-aggregators-and-payment-gateways/ The Regulation

17 Nov
2020

NOW INTRODUCING – FRAMEWORK FOR RECOGNITION OF A SELF-REGULATORY ORGANISATION FOR PAYMENT SYSTEM OPERATORS

The Reserve Bank of India, vide the notification DPSS.CO.PD.No.503/02.12.004/2020-21 dated October 22, 2020, has issued the framework for recognition and establishment of Self-Regulatory Organization  (SRO) for Payment System Operators (PSOs). With substantial growth in digital payments and maturity gained by entities in the payment ecosystem, RBI felt the need to

17 Nov
2020

Press Report: Anupam Prasad LC acts on VC investment in home renovation service Renewate

Portfolio companies of Brigade Real Estate Accelerator Program (REAP), including residential security company LiveSafe, painter aggregation platform Aapka Painter, home renovation solutions provider Renewate, and artificial intelligence and virtual reality-based customer engagement services provider PropVR, have raised fresh capital. — Techcircle AP Law Chambers advised Renewate Infrastructure Technologies Pvt Ltd led by a team