Page 23 - Banking Finance March 2023

PRESS RELEASE

CAMSPay receives in-principle authorization from RBI to operate as

a Payment Aggregator

CAMSPay, a panoptic payment platform specializing in segment. We reaffirm our commitment to making payments
solving BFSI sector’s payment challenges has received in- more seamless and secure to all stakeholders ” said Mr. Ravi
principle authorization from Reserve Bank of India to Kiran, Head of New Businesses for CAMS.
operate as a Payment Aggregator (PA).
Mr. Vasanth Jeyapaul, CEO, CAMSPay said, “We are thrilled
Part of Computer Age Management Services Limited to receive the in-principle authorisation to operate as a
(CAMS), India’s largest registrar and transfer agent of Payment Aggregator to create a much more robust and
mutual funds (a SEBI regulated entity), CAMSPay has been inclusive digital payment stack for the chosen merchant
an integral payments partner supporting Mutual Fund segments that we operate in, delivering a variety of
investors, Insurance policyholders and Loan borrowers for acceptance options. The license will help us further fortify
over a decade in enabling them move from paper-based our offerings in the payments arena”.
mandate process to offering digital payment solutions. As
Mutual Fund Investors use CAMSPay for their SIP and bullet
a specialized payments solutions provider to the BFSI
investments, Insurance Policy holders for paying their policy
segment, the in-principal authorization from RBI to operate
premia and loan borrowers for repaying their loans. With
as a Payment Aggregator will widen the scope and coverage a comprehensive suite of payment options, CAMSPay is well-
of CAMSPay.
known for its strong commitment to compliance and
“CAMSPay provides a wide range of payment options security. CAMSPay works with over fifty financial institutions
including Digital Payments, Payment Gateway, Cards, UPI, which include mutual funds, insurance companies, and
and Net Banking. The in-principle authorization from RBI NBFCs across India. As the first to provide UPI Autopay
to operate as a Payment Aggregator is a key milestone service to the Mutual Funds sector, CAMSPay continues to
towards further strengthening our offerings in the BFSI lead the market with its innovative payment solutions.

ICICI Bank signs MoU with BNP Paribas
ICICI Bank, a leading private sector bank in India, and BNP Paribas, a top European bank, have signed a Memorandum
of Understanding (MoU) to cater to the banking requirements of European corporates operating in India and Indian
companies in the European Union.

The MoU establishes a framework of partnership between the two banks for providing financial services to corporate
customers operating in the India – Europe corridor.
The MoU was signed at an event held in Mumbai by Mr. Anup Bagchi, Executive Director, ICICI Bank, and Mr. Grzegorz
Marczuk, Chief Operating Officer, BNP Paribas India.
Speaking on the occasion, Mr. Anup Bagchi, Executive Director, ICICI Bank said, “We are delighted to enter into a
partnership with BNP Paribas, one of the oldest foreign banks in India. As the fifth largest economy in the world and with
a strong focus to become a regional manufacturing hub, India is at the forefront of leading the world growth in the near
future. This makes India a very attractive destination for trade and foreign investment, with Europe ranking amongst
the top regions investing in India. With our strong physical network across the country, world class digital offerings and
comprehensive suite of corporate and retail banking products, we are confident that ICICI Bank will support BNP Paribas’
customers grow their business in India, and make India one of their key markets. Further, we will leverage BNP Paribas’
pan-Europe presence to support our corporate clients for any of their banking requirements across Europe.”

Mr. Sanjay Singh, Head of Territory & CEO, BNP Paribas India said, “We do see several Indian corporates emerging as
global champions. Our partnership with ICICI Bank will support corporates’ expansion plans with a right mix of ICICI
Bank’s robust domestic physical network combined with our deep global footprint. This alliance will further strengthen
our commitment to supporting Indian corporates in their global journey and European corporate clients looking to expand
their footprint in India.”

BANKING FINANCE | MARCH | 2023 | 21