Press Releases - Payment and Settlement Systems - ଆରବିଆଇ - Reserve Bank of India
ପ୍ରେସ୍ ପ୍ରକାଶନୀ
ଫେବୃଆରୀ 25, 2016
RBI approves SWIFT India Domestic Services Private Limited (SIDSPL) for Domestic Financial Messaging Services in India
The Reserve Bank of India has granted approval to SWIFT India Domestic Services Private Limited (SIDSPL) to provide messaging services for domestic financial transactions in India. Background The decision to permit the use of SWIFT for domestic financial transactions was announced in the Monetary Policy Statement 2012-13. Currently, the messaging for inter-bank transactions in India is through Structured Financial Messaging System (SFMS). Messaging operations of SWIFT
The Reserve Bank of India has granted approval to SWIFT India Domestic Services Private Limited (SIDSPL) to provide messaging services for domestic financial transactions in India. Background The decision to permit the use of SWIFT for domestic financial transactions was announced in the Monetary Policy Statement 2012-13. Currently, the messaging for inter-bank transactions in India is through Structured Financial Messaging System (SFMS). Messaging operations of SWIFT
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ଡିସେମ୍ବର 22, 2015
Payments Banks and Small Finance Banks to apply for Payment Systems Membership after getting Licence
The Reserve Bank of India has clarified that entities that have been granted in-principle approval by it for setting up Payments Banks and Small Finance Banks can apply to the Reserve Bank for membership of any centralised/decentralised payment systems, including Bharat Bill Payment System (BBPS), after receiving the licence for commencement of business under Banking Regulation Act, 1949. The clarification was required as the Reserve Bank had been receiving queries fr
The Reserve Bank of India has clarified that entities that have been granted in-principle approval by it for setting up Payments Banks and Small Finance Banks can apply to the Reserve Bank for membership of any centralised/decentralised payment systems, including Bharat Bill Payment System (BBPS), after receiving the licence for commencement of business under Banking Regulation Act, 1949. The clarification was required as the Reserve Bank had been receiving queries fr
ଡିସେମ୍ବର 22, 2015
To encourage innovations, RBI institutes “Payment System Innovation Awards”
In order to encourage innovators in India in the area of Payment and Settlement System, the Reserve Bank of India has announced “Payment System Innovation Awards”. Broad areas of innovation which could be considered for the awards are: Payment security including fraud prevention Customer convenience and cost reduction Mobile payments Acceptance /electronic payment infrastructure Use of emerging technologies for payments The contest would be organised by the Institute
In order to encourage innovators in India in the area of Payment and Settlement System, the Reserve Bank of India has announced “Payment System Innovation Awards”. Broad areas of innovation which could be considered for the awards are: Payment security including fraud prevention Customer convenience and cost reduction Mobile payments Acceptance /electronic payment infrastructure Use of emerging technologies for payments The contest would be organised by the Institute
ନଭେମ୍ବର 24, 2015
RBI grants ‘in-principle’ approval to NPCI to function as the central unit for Bharat Bill Payment Systems (BBPS)
The Reserve Bank of India has today decided to grant ‘in principle’ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS. The Bharat Bill Payment System (BBPS), an integrated bill payment system, will function as a tiered structure for operating the bill payment system in the country with a single brand image providing convenience of ‘anytime anywhere’ bill payment to customers. As the centra
The Reserve Bank of India has today decided to grant ‘in principle’ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS. The Bharat Bill Payment System (BBPS), an integrated bill payment system, will function as a tiered structure for operating the bill payment system in the country with a single brand image providing convenience of ‘anytime anywhere’ bill payment to customers. As the centra
ନଭେମ୍ବର 24, 2015
RBI grants “in-principle” approval to three applicants for setting up Trade Receivables Discounting System (TReDS)
In the Union Budget for 2015-16 the Honourable Union Finance Minister had highlighted the need for and use of TReDS for improving flow of funds to MSME sector by reducing the receivables realisation cycles. TReDS will allow SMEs to post their receivables on the system and get them financed. This will not only give them greater access to finance but will also put greater discipline on corporates to pay their dues on time. In line with this, the Reserve Bank of India ha
In the Union Budget for 2015-16 the Honourable Union Finance Minister had highlighted the need for and use of TReDS for improving flow of funds to MSME sector by reducing the receivables realisation cycles. TReDS will allow SMEs to post their receivables on the system and get them financed. This will not only give them greater access to finance but will also put greater discipline on corporates to pay their dues on time. In line with this, the Reserve Bank of India ha
ନଭେମ୍ବର 13, 2015
RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
The Reserve Bank of India has extended the last date for receiving applications for authorising Bharat Bill Payment System Operating Units (BBPOUs), to December 18, 2015 from the earlier November 20, 2015. This has been done keeping in view the difficulties expressed by various entities in meeting the deadline. Applications will now be accepted till the close of business as on December 18, 2015. It may, however, be noted that the applications received till close of bu
The Reserve Bank of India has extended the last date for receiving applications for authorising Bharat Bill Payment System Operating Units (BBPOUs), to December 18, 2015 from the earlier November 20, 2015. This has been done keeping in view the difficulties expressed by various entities in meeting the deadline. Applications will now be accepted till the close of business as on December 18, 2015. It may, however, be noted that the applications received till close of bu
ଅକ୍ଟୋବର 20, 2015
RBI invites Applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
The Reserve Bank of India today invited applications for authorisation from entities currently engaged in bill payments and desirous of operating as Bharat Bill Payment System Operating Units (BBPOUs) under the Bharat Bill Payment System (BBPS). The BBPS will be an authorised payment system operated by National Payment Corporation of India (NPCI). To begin with, under BBPS the BBPOUs will function as entities facilitating collection of repetitive payments for everyday
The Reserve Bank of India today invited applications for authorisation from entities currently engaged in bill payments and desirous of operating as Bharat Bill Payment System Operating Units (BBPOUs) under the Bharat Bill Payment System (BBPS). The BBPS will be an authorised payment system operated by National Payment Corporation of India (NPCI). To begin with, under BBPS the BBPOUs will function as entities facilitating collection of repetitive payments for everyday
ଅଗଷ୍ଟ 28, 2015
Bank Holiday on Second & Fourth Saturdays from September 1; RBI to offer its Support Services to Banks on Working Saturdays
All scheduled and non-scheduled banks – public, private, foreign, cooperative, regional rural and local area banks – will observe public holiday on second and fourth Saturdays from September 01, 2015; and will observe full working days on Saturdays other than second and fourth Saturdays (referred to as working Saturdays in the Press Release). Consequent to this, the Reserve Bank of India has announced the following changes in its functioning with effect from September
All scheduled and non-scheduled banks – public, private, foreign, cooperative, regional rural and local area banks – will observe public holiday on second and fourth Saturdays from September 01, 2015; and will observe full working days on Saturdays other than second and fourth Saturdays (referred to as working Saturdays in the Press Release). Consequent to this, the Reserve Bank of India has announced the following changes in its functioning with effect from September
ଅଗଷ୍ଟ 27, 2015
RBI doubles Limits of Cash Withdrawal at POS for Tier III to VI Centres
The Reserve Bank of India has doubled the limit for cash withdrawal at point-of-sale (POS) in Tier III to VI centres from ₹ 1000/- to ₹ 2000/- per day. This facility will be available for debit cards and open system prepaid cards issued only by banks. It is envisaged that the enhanced amount will add to customer convenience and aid re-cycling of cash in Tier III to VI centres even as the push towards a less cash society is pursued. This facility will be reviewed keepi
The Reserve Bank of India has doubled the limit for cash withdrawal at point-of-sale (POS) in Tier III to VI centres from ₹ 1000/- to ₹ 2000/- per day. This facility will be available for debit cards and open system prepaid cards issued only by banks. It is envisaged that the enhanced amount will add to customer convenience and aid re-cycling of cash in Tier III to VI centres even as the push towards a less cash society is pursued. This facility will be reviewed keepi
ଅଗଷ୍ଟ 19, 2015
RBI grants “in-principle” approval to 11 Applicants for Payments Banks
The Reserve Bank of India has today decided to grant “in-principle” approval to the following 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014 (Guidelines). Aditya Birla Nuvo Limited Airtel M Commerce Services Limited Cholamandalam Distribution Services Limited Department of Posts Fino PayTech Limited National Securities Depository Limited Reliance Industries Limited Shri Dilip Shantilal Shanghvi S
The Reserve Bank of India has today decided to grant “in-principle” approval to the following 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014 (Guidelines). Aditya Birla Nuvo Limited Airtel M Commerce Services Limited Cholamandalam Distribution Services Limited Department of Posts Fino PayTech Limited National Securities Depository Limited Reliance Industries Limited Shri Dilip Shantilal Shanghvi S
ଜୁଲାଇ 09, 2015
RBI releases Final Guidelines on PPI for Mass Transit System (PPI-MTS)
The Reserve Bank of India (RBI) today placed on its website the final guidelines on Prepaid Payment Instruments for Mass Transit System (PPI-MTS) enabling the issuance of a separate category of semi-closed prepaid payment instruments for mass transit systems. The PPI-MTS will enhance commuter convenience and will also facilitate the migration to electronic payments in line with the country’s vision of moving to a less-cash society. The PPI-MTS can be used within the m
The Reserve Bank of India (RBI) today placed on its website the final guidelines on Prepaid Payment Instruments for Mass Transit System (PPI-MTS) enabling the issuance of a separate category of semi-closed prepaid payment instruments for mass transit systems. The PPI-MTS will enhance commuter convenience and will also facilitate the migration to electronic payments in line with the country’s vision of moving to a less-cash society. The PPI-MTS can be used within the m
ମଇ 28, 2015
RBI proposes to introduce PPI for Mass Transit Systems; seeks Comments on Draft Instructions
The Reserve Bank of India has today placed on its website for comments and feedback the draft guidelines on Prepaid Payment Instruments (PPI) for Mass Transit System (PPI-MTS). Comments may be e-mailed or sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400 001 on or before June 15, 2015. Background The Reserve Bank of India has been receiving re
The Reserve Bank of India has today placed on its website for comments and feedback the draft guidelines on Prepaid Payment Instruments (PPI) for Mass Transit System (PPI-MTS). Comments may be e-mailed or sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400 001 on or before June 15, 2015. Background The Reserve Bank of India has been receiving re
ମାର୍ଚ୍ଚ 25, 2015
RBI releases Names of Applicants of Trade Receivables Discounting System (TReDS)
The Reserve Bank of India today released the names of applicants who have applied for setting up Trade Receivables Discounting System (TReDS). These are: Sr.No. Name of the entity 1. NSE Strategic Investment Corporation Limited (NSIC) and Small Industries Development Bank of India (SIDBI), Mumbai 2. Trade Receivables Exchange (Group of Banking Professionals), Mumbai 3. Axis Bank Limited, Mumbai 4. Mynd Solutions Pvt. Ltd., Gurgaon, Haryana 5. DICIC Bank of India, Kolk
The Reserve Bank of India today released the names of applicants who have applied for setting up Trade Receivables Discounting System (TReDS). These are: Sr.No. Name of the entity 1. NSE Strategic Investment Corporation Limited (NSIC) and Small Industries Development Bank of India (SIDBI), Mumbai 2. Trade Receivables Exchange (Group of Banking Professionals), Mumbai 3. Axis Bank Limited, Mumbai 4. Mynd Solutions Pvt. Ltd., Gurgaon, Haryana 5. DICIC Bank of India, Kolk
ମାର୍ଚ୍ଚ 13, 2015
RBI Seeks Comments on Draft Circular for Card Payments - Removal of requirement of Additional Factor of Authentication for small value card present transactions
The Reserve Bank of India has today placed on its website the Draft Circular for Card Payments - Removal of requirement of Additional Factor of Authentication for small value card present transactions, for feedback. Comments may be emailed or sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001 on or before April 04, 2015. Background The Reser
The Reserve Bank of India has today placed on its website the Draft Circular for Card Payments - Removal of requirement of Additional Factor of Authentication for small value card present transactions, for feedback. Comments may be emailed or sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001 on or before April 04, 2015. Background The Reser
ଫେବୃଆରୀ 06, 2015
RBI extends Last Date for Receipt of Applications for setting up of and operating TReDS
The Reserve Bank of India has extended the last date for receiving applications for setting up of and operating the Trade Receivables Discounting System (TReDS), to March 9, 2015. The last date for this was February 13, 2015. This has been done keeping in view the difficulties expressed by various parties in meeting the deadline. Accordingly, applications will be accepted till the close of business as on March 9, 2015. Alpana Killawala Principal Chief General Manager
The Reserve Bank of India has extended the last date for receiving applications for setting up of and operating the Trade Receivables Discounting System (TReDS), to March 9, 2015. The last date for this was February 13, 2015. This has been done keeping in view the difficulties expressed by various parties in meeting the deadline. Accordingly, applications will be accepted till the close of business as on March 9, 2015. Alpana Killawala Principal Chief General Manager
ଡିସେମ୍ବର 03, 2014
RBI releases Guidelines for setting up of and operating TReDS
The Reserve Bank of India (RBI) today announced the guidelines for setting up and operating the Trade Receivables Discounting System (TReDS). TReDs is a scheme for setting up and operating the institutional mechanism to facilitate the financing of trade receivables of micro, small and medium enterprises (MSMEs) from corporate and other buyers, including government departments and public sector undertakings (PSUs) through multiple financiers. The guidelines outline the
The Reserve Bank of India (RBI) today announced the guidelines for setting up and operating the Trade Receivables Discounting System (TReDS). TReDs is a scheme for setting up and operating the institutional mechanism to facilitate the financing of trade receivables of micro, small and medium enterprises (MSMEs) from corporate and other buyers, including government departments and public sector undertakings (PSUs) through multiple financiers. The guidelines outline the
ନଭେମ୍ବର 28, 2014
RBI’s Final Guidelines on Bharat Bill Payment System
The Reserve Bank of India has today released the final Guidelines for implementation of Bharat Bill Payment System (BBPS). In terms of the guidelines, the National Payments Corporation of India (NPCI) will function as the authorised Bharat Bill Payment Central Unit (BBPCU) to set the standards for BBPS processes which need to be adhered to by all operating units (Bharat Bill Payment Operating Units - BBPOUs) under the system. NPCI, as the BBPCU, will also undertake cl
The Reserve Bank of India has today released the final Guidelines for implementation of Bharat Bill Payment System (BBPS). In terms of the guidelines, the National Payments Corporation of India (NPCI) will function as the authorised Bharat Bill Payment Central Unit (BBPCU) to set the standards for BBPS processes which need to be adhered to by all operating units (Bharat Bill Payment Operating Units - BBPOUs) under the system. NPCI, as the BBPCU, will also undertake cl
ଅଗଷ୍ଟ 21, 2014
RBI releases NG-RTGS Character Set
The Reserve Bank of India has today defined and issued a list of special characters that are allowed (positive list given in Annex I) and a list of characters that are not allowed (negative list given in Annex II) in RTGS (real time gross settlement) messages. This is in order to have uniformity in usage of special characters by Indian banking industry for seamless processing of RTGS messages. All RTGS member participants are advised to strictly follow these lists for
The Reserve Bank of India has today defined and issued a list of special characters that are allowed (positive list given in Annex I) and a list of characters that are not allowed (negative list given in Annex II) in RTGS (real time gross settlement) messages. This is in order to have uniformity in usage of special characters by Indian banking industry for seamless processing of RTGS messages. All RTGS member participants are advised to strictly follow these lists for
ଅଗଷ୍ଟ 07, 2014
RBI seeks Comments on Draft Guidelines for Implementation of Bharat Bill Payment System (BBPS)
The Reserve Bank of India has today sought comments on Draft Guidelines for Implementation of Bharat Bill Payment System (BBPS). Bill payment is a major component of the retail payment transactions. Over 30,800 million bills amounting to more than `6000 billion are generated each year in the top 20 cities in the country. Though various forms of payments are accepted, cash and cheque payments continue to be predominant, particularly at the Billers’ Own Collection Point
The Reserve Bank of India has today sought comments on Draft Guidelines for Implementation of Bharat Bill Payment System (BBPS). Bill payment is a major component of the retail payment transactions. Over 30,800 million bills amounting to more than `6000 billion are generated each year in the top 20 cities in the country. Though various forms of payments are accepted, cash and cheque payments continue to be predominant, particularly at the Billers’ Own Collection Point
ଜୁଲାଇ 22, 2014
RBI Seeks Comments on Draft Guidelines for setting up of and operating Trade Receivables Discounting System (TReDS)
The Reserve Bank of India has today sought feedback on the Draft Guidelines for setting up of and operating Trade Receivables Discounting System (TReDS). Comments may be emailed or sent by post to the Principal Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai - 400001 on or before August 08, 2014. The guidelines are available on RBI website (www.rbi.org.in). Backgro
The Reserve Bank of India has today sought feedback on the Draft Guidelines for setting up of and operating Trade Receivables Discounting System (TReDS). Comments may be emailed or sent by post to the Principal Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai - 400001 on or before August 08, 2014. The guidelines are available on RBI website (www.rbi.org.in). Backgro
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