Freecharge

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Banking, Fintech & Insurance 21 Oct 2026, 05:00 PM IST

Axis Bank’s Freecharge Wins RBI In-Principle Nod to Operate as Payment Aggregator

Axis Bank’s digital payments arm Freecharge has received in-principle approval from the Reserve Bank of India to operate as a payment aggregator under the PA-O1 and PA-P1 categories, marking a significant regulatory milestone for the platform. The approval positions Freecharge to expand its payments business from FY27, as Axis Bank deepens its push into digital transactions amid strong UPI growth and near-complete digitisation of its financial transaction base.

By RDU Global Wire5 min read

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Reserve Bank of India(1)New Delhi(1)India(1)Axis Bank(1)