Press Releases - Payment and Settlement Systems - RBI - Reserve Bank of India
Press Releases
Nov 15, 2018
Cancellation of Certificate of Authorisation - MMP Mobi Wallet Payment Systems Ltd
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation MMP Mobi Wallet Payment Systems Ltd. A, E & F Blocks, Voltas Premises T.B.Kad
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation MMP Mobi Wallet Payment Systems Ltd. A, E & F Blocks, Voltas Premises T.B.Kad
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Oct 19, 2018
Reserve Bank of India releases Dissent Note on Inter-Ministerial Committee for finalization of Amendments to PSS Act
An Inter-Ministerial Committee for finalization of amendments to the Payment & Settlement Systems Act, 2007 was formed by the Government under the chairmanship of Secretary, Department of Economic Affairs. RBI was represented in the Committee. Draft report of the Committee has been placed in public domain by the Government. RBI representative has submitted a dissent note on certain recommendations of the Committee, a copy of which is reproduced below for public in
An Inter-Ministerial Committee for finalization of amendments to the Payment & Settlement Systems Act, 2007 was formed by the Government under the chairmanship of Secretary, Department of Economic Affairs. RBI was represented in the Committee. Draft report of the Committee has been placed in public domain by the Government. RBI representative has submitted a dissent note on certain recommendations of the Committee, a copy of which is reproduced below for public in
Aug 28, 2018
Cancellation of Certificate of Authorisation - M/s Tech Mahindra Limited, Noida
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation Tech Mahindra Limited, Noida A-20, Sector 60, Noida 201 301. 59/2013 19.09.2013 P
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation Tech Mahindra Limited, Noida A-20, Sector 60, Noida 201 301. 59/2013 19.09.2013 P
Jul 05, 2017
Cancellation of Certificate of Authorisation - M/s Atom Technologies Limited
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation Atom Technologies Limited, Mumbai FT Tower, CTS No. 256 & 257, Suren Road, Ch
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation Atom Technologies Limited, Mumbai FT Tower, CTS No. 256 & 257, Suren Road, Ch
May 23, 2017
Paytm Payments Bank Limited commences operations
Paytm Payments Bank Limited has commenced operations as a payments bank with effect from May 23, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India. Shri Vijay Shekhar Sharma was one of the 11 applicants who was issued in-principle approval for setting up a payments bank, as announced in the press release on August 19, 2015.Alpana Killawala Principal Advise
Paytm Payments Bank Limited has commenced operations as a payments bank with effect from May 23, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India. Shri Vijay Shekhar Sharma was one of the 11 applicants who was issued in-principle approval for setting up a payments bank, as announced in the press release on August 19, 2015.Alpana Killawala Principal Advise
May 09, 2017
Bharat Bill Payment System (BBPS) - Extension of timeline
The Reserve Bank of India has decided to extend the last date, from May 31, 2017 to December 31, 2017, for entities undertaking billing business under the current scope of BBPS, to either become an agent of an authorised BBPOU or exit the business of bill payments. This time-line is applicable to the entities, which did not apply for authorization as a BBPOU, or whose application for BBPOU has been returned by RBI, or which were granted extension of time by RBI but we
The Reserve Bank of India has decided to extend the last date, from May 31, 2017 to December 31, 2017, for entities undertaking billing business under the current scope of BBPS, to either become an agent of an authorised BBPOU or exit the business of bill payments. This time-line is applicable to the entities, which did not apply for authorization as a BBPOU, or whose application for BBPOU has been returned by RBI, or which were granted extension of time by RBI but we
May 08, 2017
Introduction of additional settlement batches in National Electronic Funds Transfer (NEFT) System
The Reserve Bank of India in its First Bi-monthly Monetary Policy Statement for 2017-18 has announced the introduction of additional settlements in the NEFT system to enhance the efficiency and add to customer convenience. The additional 11 settlements at half-hour intervals will be introduced with effect from July 10, 2017 (Monday) at 8.30 am, 9.30 am, 10.30 am ……… 5.30 pm and 6.30 pm, taking the total number of half hourly settlement batches during the day to 23. Th
The Reserve Bank of India in its First Bi-monthly Monetary Policy Statement for 2017-18 has announced the introduction of additional settlements in the NEFT system to enhance the efficiency and add to customer convenience. The additional 11 settlements at half-hour intervals will be introduced with effect from July 10, 2017 (Monday) at 8.30 am, 9.30 am, 10.30 am ……… 5.30 pm and 6.30 pm, taking the total number of half hourly settlement batches during the day to 23. Th
May 04, 2017
Cancellation of Certificate of Authorisation - M/s Beam Money Private Limited
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorized Date of cancellation Beam Money Private Limited, New Delhi (formerly authorised as Suvidha Starnet Pri
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorized Date of cancellation Beam Money Private Limited, New Delhi (formerly authorised as Suvidha Starnet Pri
Mar 30, 2017
RBI seeks comments on draft Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India - Extension of timeline
The Reserve Bank of India has extended the time for receipt of comments/ suggestions/ feedback on draft Master Directions on issuance and operation of pre-paid payment instruments (PPIs) in India till April 15, 2017. The feedback, if any, may be sent by post to the Chief General Manager – in - charge, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400 001, or by email. Earlier, the Bank
The Reserve Bank of India has extended the time for receipt of comments/ suggestions/ feedback on draft Master Directions on issuance and operation of pre-paid payment instruments (PPIs) in India till April 15, 2017. The feedback, if any, may be sent by post to the Chief General Manager – in - charge, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400 001, or by email. Earlier, the Bank
Mar 30, 2017
RBI advisory on E-wallets
The Reserve Bank of India has today advised the users of Pre-paid Payment Instruments (PPIs), including mobile and electronic wallets, that only non-bank entities authorised by RBI under the Payment and Settlement Systems Act, 2007 (the Act) can issue PPI wallets for purchase of goods and services from third parties and money transfer within India. Only permitted banks can issue PPI wallets which in addition to purchase of goods and services from third parties and mon
The Reserve Bank of India has today advised the users of Pre-paid Payment Instruments (PPIs), including mobile and electronic wallets, that only non-bank entities authorised by RBI under the Payment and Settlement Systems Act, 2007 (the Act) can issue PPI wallets for purchase of goods and services from third parties and money transfer within India. Only permitted banks can issue PPI wallets which in addition to purchase of goods and services from third parties and mon
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