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Policy · Professional & Local Services

Groww surrenders PA licence two years after RBI approval

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Groww logo
Date
Company
Groww
What it does
stockbroking and investment platform
Kind
Policy
Sector
Professional & Local Services

What they do

Groww, a stockbroking and investment platform, has surrendered its payment aggregator licence, exiting the payments space after securing RBI approval in…

What happened

The move signals a strategic refocus on its core broking and wealth management business, where it has seen rapid growth

Why it matters

This follows similar exits by other companies like Zomato, which also surrendered its payment aggregator licence in 2024

The details

  • Groww, a stockbroking and investment platform, has surrendered its payment aggregator licence, exiting the payments space after securing RBI approval in April 2024.
  • The company had received RBI approval in April 2024 for its payments arm Groww Pay, which allowed it to onboard merchants and process transactions directly.
  • Groww entered the payments segment in 2023 with a UPI app that offered bill payments, recharges, and credit card repayments.
  • The move indicates a strategic shift away from operating as a payments intermediary.
  • This follows similar exits by other companies like Zomato, which also surrendered its payment aggregator licence in 2024.

The bigger picture

  • The regulatory landscape for payment aggregators has evolved, with the RBI showing flexibility in 2025 by accelerating approvals and granting licences across various categories.
  • Groww is not alone in this move, as other companies like Zomato have also exited the payments segment to focus on their core businesses.
  • The exit comes at a time when the RBI has granted licences to players such as Paytm, Razorpay, PayU, Pine Labs, Easebuzz, and Airpay.

About the business

  • Groww is a stockbroking and investment platform that allows users to invest in stocks, ETFs, IPOs, and mutual funds.
  • It provides real-time tracking of stock holdings, P&L, and intraday performance monitoring.
  • The platform also offers features like mutual fund investments, SIPs, and trading in futures and options.
  • Groww has over 130,834,586+ registered users and is India's leading investing platform.
  • It offers a user-friendly interface and support for both novice and experienced investors.

The deal

Type
policy

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