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

Current Context: Computer Age Management Services (CAMS) has received authorization from the Reserve Bank of India (RBI) 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