It expects the sector to notch up high double-digit growth of 20-30 per cent, on improved collections and disbursals. It sees the credit cost to improve to 1-3 per cent from 1.5-5 per cent this fiscal.

The regulator also said that while the scrutiny of applications was currently underway, to ensure greater transparency it was releasing current application status for all payment aggregators who had applied to the RBI for a license.

The Committee of Creditors on Wednesday approved the plan submitted by NARCL, which offered a Net Present Value (NPV) bid of Rs 5,555 crore, after it received the highest vote of 89.2 per cent from verified creditors.

The fund will focus on investing in regions including Mumbai, Chennai, Noida, and Hyderabad that are witnessing significant rise in demand for these services.

"We believe that increasing the tax burden would have a negative effect on investors, and completely stifle the participation of such investors in the MLD market," the letter states. "Looking at the investor sentiment, the impact gets further accentuated since this amendment seeks to introduce a retrospective amendment."

The conglomerate, with businesses stretching from ports to renewable energy, tapped international bond buyers for more than $8 billion in recent years, while also turning to global banks for at least as much in foreign-currency loans, data compiled by Bloomberg show.

The Enforcement Directorate (ED) probing the case has accused Aggarwal and his companies of causing loss of over Rs 2,000 crore to IL&FS Financial Services (IFIN), a subsidiary of the beleaguered NBFC.

Lenders of Anil Ambani-promoted Reliance Capital had moved the NCLAT (National Company Law Appellate Tribunal) challenging an order of the NCLT which restricted further auction of the bankrupt firm.

"This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said in an email repose late on Monday.