Computer Age Management Services Ltd (CAMS), India's largest mutual fund transfer agency, on Wednesday announced that it has received approval from the Reserve Bank of India (RBI) to operate as a payment aggregator.
CAMS added that as a specialised payment aggregator to the BFSI (Banking, Financial Services and Insurance) segment, it has been offering personalised payment options to meet different use cases for mutual fund investors and insurance policyholders for over a decade.
The company has now moved the application for issue of the authorisation under the “Guidelines on Regulation of Payment Aggregators and Payment Gateways”, which were issued through RBI circulars in March 2020 and March 2021.
Last week, CAMS had reported a 2.5 percent increase in its consolidated revenue from operations to Rs 243.6 crore for the December 2022 quarter compared with Rs 237.7 crore a year ago.
CAMS also announced that the board has approved the payment of an interim dividend of Rs 10.50 per equity share. The record date to determine the shareholders eligible to receive the dividend has been fixed as February 15, 2023. The expected date of disbursement of the dividend is on or before March 3, 2023.
