Press Releases - Payment and Settlement Systems - ಆರ್ಬಿಐ - Reserve Bank of India
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ಜೂನ್ 11, 2019
Reserve Bank of India imposes monetary penalty on ZipCash Card Services Pvt. Ltd. and Yes Bank Limited
In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following Prepaid Payment Instrument (PPI) issuers for non-compliance of regulatory guidelines. Sr. No. Name of the PPI Issuer Speaking Order dated Amount of Penalty (in ₹ lakh) 1. ZipCash Card Services Pvt. Ltd. 22-04-2019 11.25 2. Yes Bank Limited 22-04-2019 11.25 Yogesh Dayal Chief General Manager Press Release
In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following Prepaid Payment Instrument (PPI) issuers for non-compliance of regulatory guidelines. Sr. No. Name of the PPI Issuer Speaking Order dated Amount of Penalty (in ₹ lakh) 1. ZipCash Card Services Pvt. Ltd. 22-04-2019 11.25 2. Yes Bank Limited 22-04-2019 11.25 Yogesh Dayal Chief General Manager Press Release
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ಜೂನ್ 11, 2019
Committee to Review the ATM Interchange Fee Structure
It was announced in the Part ‘B’ of the Second Bi-Monthly Monetary Policy for the year 2019-20 on June 6, 2019 that the Reserve Bank of India will constitute a Committee to Review the ATM Interchange Fee Structure with a view to give a fillip to the ATM deployment in the unbanked areas. Accordingly, the Reserve Bank of India has constituted a Committee to examine the entire gamut of ATM charges and fees. The composition of the Committee is as under: 1 Shri V. G. Kanna
It was announced in the Part ‘B’ of the Second Bi-Monthly Monetary Policy for the year 2019-20 on June 6, 2019 that the Reserve Bank of India will constitute a Committee to Review the ATM Interchange Fee Structure with a view to give a fillip to the ATM deployment in the unbanked areas. Accordingly, the Reserve Bank of India has constituted a Committee to examine the entire gamut of ATM charges and fees. The composition of the Committee is as under: 1 Shri V. G. Kanna
ಜೂನ್ 04, 2019
RBI releases report on Benchmarking India’s Payment Systems
The Reserve Bank of India today released a report on “Benchmarking India’s Payment Systems” which provides a comparative position of the payment system ecosystem in India relative to comparable payment systems and usage trends in other major countries. It may be recalled that in the First Bi-monthly Monetary Policy Statement, 2019-20 announced on April 4, 2019 [Para 12(viii)], it was stated that “Benchmarking India’s Payments Systems is necessary to gauge India’s prog
The Reserve Bank of India today released a report on “Benchmarking India’s Payment Systems” which provides a comparative position of the payment system ecosystem in India relative to comparable payment systems and usage trends in other major countries. It may be recalled that in the First Bi-monthly Monetary Policy Statement, 2019-20 announced on April 4, 2019 [Para 12(viii)], it was stated that “Benchmarking India’s Payments Systems is necessary to gauge India’s prog
ಮೇ 17, 2019
Report of the Committee on Deepening of Digital Payments
The Reserve Bank of India had constituted a High-Level Committee on Deepening of Digital Payments under the Chairmanship of Shri Nandan Nilekani, former Chairman, UIDAI, in January 2019. The Committee held its deliberations including consultations with various stakeholders and has today submitted its report to the Governor, Reserve Bank of India. The Reserve Bank of India will examine the recommendations of the Committee and will dovetail the action points, wherever n
The Reserve Bank of India had constituted a High-Level Committee on Deepening of Digital Payments under the Chairmanship of Shri Nandan Nilekani, former Chairman, UIDAI, in January 2019. The Committee held its deliberations including consultations with various stakeholders and has today submitted its report to the Governor, Reserve Bank of India. The Reserve Bank of India will examine the recommendations of the Committee and will dovetail the action points, wherever n
ಮೇ 15, 2019
RBI publishes ‘Payment and Settlement Systems in India: Vision 2019 - 2021’
The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision 2019 – 2021”. The Payment Systems Vision 2021 with its core theme of ‘Empowering Exceptional (E)payment Experience’ aims at empowering every Indian with access to a bouquet of e-payment options that is safe, secure, convenient, quick and affordable. The Payment Systems Vision 2021 has been formalised based on inputs from various stakeholders and guidance of t
The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision 2019 – 2021”. The Payment Systems Vision 2021 with its core theme of ‘Empowering Exceptional (E)payment Experience’ aims at empowering every Indian with access to a bouquet of e-payment options that is safe, secure, convenient, quick and affordable. The Payment Systems Vision 2021 has been formalised based on inputs from various stakeholders and guidance of t
ಮೇ 03, 2019
Reserve Bank of India imposes monetary penalty on Western Union Financial Services Inc. and MoneyGram Payment Systems Inc.
The Reserve Bank of India (RBI) has, vide orders dated April 20, 2018, imposed monetary penalty of ₹ 29,66,959/- and ₹ 10,11,653/- on Western Union Financial Services Inc., USA and MoneyGram Payment Systems Inc., USA, respectively, for non-compliance of regulatory guidelines. These penalties have been imposed in exercise of the powers vested in RBI under the provisions of Section 31 of the Payment and Settlement Systems Act, 2007 for compounding of the contraventions.
The Reserve Bank of India (RBI) has, vide orders dated April 20, 2018, imposed monetary penalty of ₹ 29,66,959/- and ₹ 10,11,653/- on Western Union Financial Services Inc., USA and MoneyGram Payment Systems Inc., USA, respectively, for non-compliance of regulatory guidelines. These penalties have been imposed in exercise of the powers vested in RBI under the provisions of Section 31 of the Payment and Settlement Systems Act, 2007 for compounding of the contraventions.
ಮೇ 03, 2019
Reserve Bank of India imposes monetary penalty on five Prepaid Payment Instrument (PPI) Issuers
In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following five PPI Issuers for non-compliance of regulatory guidelines. Sr. No. Name of the PPI Issuer Speaking Order dated Amount of Penalty (in ₹ lakh) 1. My Mobile Payments Limited 22-10-2018 100 2. Phonepe Private Limited 14-02-2019 100 3. Y-Cash Software Solutions Private Limited 22-02-2019 5 4. Vodafone m-pe
In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following five PPI Issuers for non-compliance of regulatory guidelines. Sr. No. Name of the PPI Issuer Speaking Order dated Amount of Penalty (in ₹ lakh) 1. My Mobile Payments Limited 22-10-2018 100 2. Phonepe Private Limited 14-02-2019 100 3. Y-Cash Software Solutions Private Limited 22-02-2019 5 4. Vodafone m-pe
ಫೆಬ್ರವರಿ 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
ಜನವರಿ 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
ಜನವರಿ 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
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ಪೇಜ್ ಕೊನೆಯದಾಗಿ ಅಪ್ಡೇಟ್ ಆದ ದಿನಾಂಕ: ಜುಲೈ 01, 2024
