Press Releases - Payment and Settlement Systems - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਜੁਲਾ 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
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ਮਈ 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
ਮਈ 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
ਮਈ 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
ਮਈ 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
ਮਾਰਚ 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
ਮਾਰਚ 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
ਮਾਰਚ 21, 2017
RBI imposes penalty on Eko India Financial Services Private Limited
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 5,00,000/- (Rupees five lakh only) on Eko India Financial Services Private Limited (entity) in exercise of the powers vested under the provisions of section 30 of the PSS Act, 2007 for not adhering to RBI instructions and wrongful reporting. The Reserve Bank of India had earlier issued a show cause notice to the entity based on the scrutiny of returns, in response to which the entity made a written su
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 5,00,000/- (Rupees five lakh only) on Eko India Financial Services Private Limited (entity) in exercise of the powers vested under the provisions of section 30 of the PSS Act, 2007 for not adhering to RBI instructions and wrongful reporting. The Reserve Bank of India had earlier issued a show cause notice to the entity based on the scrutiny of returns, in response to which the entity made a written su
ਮਾਰਚ 20, 2017
RBI seeks comments on draft circular on Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India
The Reserve Bank of India has today placed on its website for public comments the Draft Circular on “Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India”. The comments/suggestions/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-400001, or by email, on or before March 31,
The Reserve Bank of India has today placed on its website for public comments the Draft Circular on “Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India”. The comments/suggestions/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-400001, or by email, on or before March 31,
ਫ਼ਰ 16, 2017
Reserve Bank of India seeks Comments on Draft Circular on Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
The Reserve Bank of India has today placed on its website for public feedback the draft circular on rationalisation of Merchant Discount Rate (MDR) for debit card transactions. The comments/ suggestions/ feedback, if any, may be sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office Building, 14th Floor, Shahid Bhagat Singh Road, Mumbai - 400 001, or by email on or before February 28, 2017. Recent
The Reserve Bank of India has today placed on its website for public feedback the draft circular on rationalisation of Merchant Discount Rate (MDR) for debit card transactions. The comments/ suggestions/ feedback, if any, may be sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office Building, 14th Floor, Shahid Bhagat Singh Road, Mumbai - 400 001, or by email on or before February 28, 2017. Recent
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