India, April 30 -- In yet another addition to the list of online payment aggregators, the Reserve Bank of India (RBI) has given its approval to fintech unicorn Groww's bill payments platform Groww Pay Services to operate as a payment aggregator (PA).

The startup had received an in-principle authorisation from the central bank for its PA business in January this year.

A company source told Inc42 that the PA licence is a key development and in line with Groww's aspirations to become a full fledged financial institution with diverse offerings.

"With the final authorisation from the RBI, we will look into what sort of gaps we can fill in the existing market with our solutions," the source added.

With the PA licence, the startup can acquir...