Payment and Settlement Systems

Reserve Bank of India today placed on its website an updated circular (hyperlink to updated circular) on Operation of Pre-Sanctioned Credit Lines at Banks through Unified Payments Interface (UPI).

As announced in Statement on Developmental and Regulatory Policies dated February 07, 2025, Reserve Bank of India today placed on its website draft directions on Additional Factor of Authentication (AFA) for cross-border Card Not Present (CNP) transactions for public comments.

The Reserve Bank of India (RBI) has been publishing a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) since January 1, 2021 with March 2018 as base to capture the extent of digitisation of payments across the country. The index for September 2024 stands at 465.33 as against 445.5 for March 2024, which was announced on July 26, 2024.

The Reserve Bank has today published the Payment System Report, December 2024. This report, in addition to analysing the trends in payment transactions carried out using various payment systems in India during the last five calendar years up to CY-2024, covers important developments in the payment ecosystem and provides an in-depth analysis into UPI. Henceforth, the Report will be published on RBI website on half yearly basis.

The Reserve Bank of India, in exercise of the powers conferred on it under Section 8 of the Payment and Settlement Systems Act, 2007, has revoked the Certificate of Authorisation (CoA) of the below mentioned Payment System Operator (PSO):