PayU gets RBI nod to open non-banking financial company
South African conglomerate Naspers-owned online payments service provider PayU India has received a licence from the RBI to open its own Non-Banking Financial Company (NBFC). The licence will be used to start a new credit business, PayU Credit. Through the service, PayU will issue personal loans and equated monthly instalments for consumers, PayU India MD Jitendra Gupta said.  