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Official Website of Reserve Bank of India	
પ્રેસ રિલીઝ
												ફેબ્રુ 25, 2019
                                                    
                                            
                                            
                                                
                                                    
																													Reserve Bank of India extends timeline for completion of KYC for PPIs
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank had issued Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs) on October 11, 2017 (amended as on December 29, 2017). As per these directions, PPI issuers are required to complete the Know Your Customer (KYC) process by February 28, 2019. Based on requests received from various stakeholders to increase the above timeline on account of difficulties in undertaking Aadhaar e-KYC and time necessary to put in place alternative 
                                                        
                                                        
                                                    
                                                    The Reserve Bank had issued Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs) on October 11, 2017 (amended as on December 29, 2017). As per these directions, PPI issuers are required to complete the Know Your Customer (KYC) process by February 28, 2019. Based on requests received from various stakeholders to increase the above timeline on account of difficulties in undertaking Aadhaar e-KYC and time necessary to put in place alternative 
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												જાન્યુ 31, 2019
                                                    
                                            
                                            
                                                
                                                    
																													The Reserve Bank introduces Ombudsman Scheme for Digital Transactions
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	As announced in the Monetary Policy Statement of December 5, 2018, the Reserve Bank of India (RBI) today launched the Ombudsman Scheme for Digital Transactions (OSDT) vide Notification dated January 31, 2019 for redressal of complaints against System Participants as defined in the said Scheme. The Scheme, launched under Section 18 of the Payment and Settlement Systems Act, 2007, will provide a cost-free and expeditious complaint redressal mechanism relating to deficie
                                                        
                                                        
                                                    
                                                    As announced in the Monetary Policy Statement of December 5, 2018, the Reserve Bank of India (RBI) today launched the Ombudsman Scheme for Digital Transactions (OSDT) vide Notification dated January 31, 2019 for redressal of complaints against System Participants as defined in the said Scheme. The Scheme, launched under Section 18 of the Payment and Settlement Systems Act, 2007, will provide a cost-free and expeditious complaint redressal mechanism relating to deficie
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												જાન્યુ 21, 2019
                                                    
                                            
                                            
                                                
                                                    
																													Reserve Bank of India invites comments on Authorisation of New Retail Payment Systems
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank has today placed on its website a policy paper on Authorisation of New Retail Payment Systems for public comments. In the Statement on Developmental and Regulatory Policies released with the Second Bi-monthly Monetary Policy Statement 2018-19, the Reserve Bank had announced that it would encourage more players to participate in and promote pan-India payment platforms and would bring out a policy paper for public consultation by September 30, 2018. The
                                                        
                                                        
                                                    
                                                    The Reserve Bank has today placed on its website a policy paper on Authorisation of New Retail Payment Systems for public comments. In the Statement on Developmental and Regulatory Policies released with the Second Bi-monthly Monetary Policy Statement 2018-19, the Reserve Bank had announced that it would encourage more players to participate in and promote pan-India payment platforms and would bring out a policy paper for public consultation by September 30, 2018. The
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												જાન્યુ 08, 2019
                                                    
                                            
                                            
                                                
                                                    
																													RBI releases guidelines on Tokenisation - Card Transactions
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank has today released guidelines on tokenisation for debit / credit / prepaid card transactions as a part of its continuous endeavour to enhance the safety and security of the payment systems in the country. Tokenisation involves a process in which a unique token masks sensitive card details. Thereafter, in lieu of actual card details, this token is used to perform card transactions in contactless mode at Point Of Sale(POS) terminals, Quick Response(QR)
                                                        
                                                        
                                                    
                                                    The Reserve Bank has today released guidelines on tokenisation for debit / credit / prepaid card transactions as a part of its continuous endeavour to enhance the safety and security of the payment systems in the country. Tokenisation involves a process in which a unique token masks sensitive card details. Thereafter, in lieu of actual card details, this token is used to perform card transactions in contactless mode at Point Of Sale(POS) terminals, Quick Response(QR)
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												નવે 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
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ઑક્ટો 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
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ઑગસ્ટ 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
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												જુલાઈ 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
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												મે 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
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												મે 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
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
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