Current Affairs · Banking Regulation

With reference to the Reserve Bank of India's (RBI) regulatory framework for Payment Aggregators (PAs), consider the following statements: 1. Non-bank entities operating as Payment Aggregators must obtain formal authorization from the RBI to carry out their operations. 2. Under the RBI guidelines, Payment Aggregators are required to maintain a prescribed minimum net worth threshold to ensure capital adequacy. 3. The RBI framework encompasses regulations for both domestic payment aggregators and entities engaged in cross-border payment aggregation services. Which of the statements given above are correct?