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CAMS Receives RBI’s Nod to Operate as an Online Payment Aggregator

Published on April 13, 2024
Current Context: Computer Age Management Services (CAMS) has received authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
CAMS Receives RBI’s Nod to Operate as an Online Payment Aggregator
  • This authorization was received on April 10, 2024.
  • The company had previously received an in-principle authorization from RBI back in February 2023.
  • CAMS’s payment business unit, CAMSPay, currently serves clients which include mutual funds, insurance companies, banks, and NBFCs.
  • Last month, CAMSPay registered over 1.2 million mandates for UPI Autopay, underlining the company’s growing influence in the online Digital Payments Segment.
  • Following this news, shares of CAMS gained nearly 4 percent.
  • The stock was trading at Rs 3,179.35.

Question:

Q.1 What is the name of CAMS’s payment business unit?
a. CAMSOnline
b. CAMSNet
c. CAMSPay
d. CAMSBank
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