Revolutionizing Payments and Startups: New Milestones in India's Growing Economy

Airpay Payment Services has received RBI approval to operate as a cross-border payment aggregator. Meanwhile, the HDFC Bank Group recognized 10 startups, promoting India's startup ecosystem. Additionally, Brakes India acquired a 10% stake in TBK TSF for a strategic business alliance, enhancing its presence in the auto components sector.

Airpay Payment Services announced on Tuesday that it has received approval from the Reserve Bank of India to operate as a cross-border payment aggregator, marking a significant milestone in its growth strategy. The company has successfully completed authorizations under the unified payment aggregator framework, granting it licenses to operate in online, physical, and cross-border categories.

In a separate development, HDFC Bank Group has recognized 10 startups as part of its ongoing efforts to bolster India's burgeoning startup ecosystem. This recognition includes special awards for emerging women founders as part of the HDFC Tech Innovators 2025 initiative. The bank is actively engaging with these startups for potential joint product and solution development.

Meanwhile, Brakes India has made a strategic move by acquiring a 10% stake in TBK TSF Group, which specializes in auto components. This acquisition, finalized through a capital and business alliance agreement, is aimed at strengthening Brakes India's position in the auto components industry.