Press Releases - Payment and Settlement Systems - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਅਗ 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
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ਅਗ 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
ਜੁਲਾ 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
ਮਈ 26, 2014
RBI authorises three non-bank entities for white label ATMs
The Reserve Bank of India has recently issued Certificates of Authorisation to the following three non-bank entities for setting up and operating White Label ATMs (WLAs) in India: 1. BTI Payments Private Limited, Bangalore 2. Srei Infrastructure Finance Limited, Kolkata 3. RiddiSiddhi Bullions Limited, Mumbai This is in addition to the four entities already authorised to operate as WLAs, viz Tata Communications Payment Solutions Limited, Mumbai, Prizm Payment Services
The Reserve Bank of India has recently issued Certificates of Authorisation to the following three non-bank entities for setting up and operating White Label ATMs (WLAs) in India: 1. BTI Payments Private Limited, Bangalore 2. Srei Infrastructure Finance Limited, Kolkata 3. RiddiSiddhi Bullions Limited, Mumbai This is in addition to the four entities already authorised to operate as WLAs, viz Tata Communications Payment Solutions Limited, Mumbai, Prizm Payment Services
ਅਪ੍ਰੈ 22, 2014
RBI releases Final Report on Enabling PKI in Payment System Applications
The Reserve Bank of India has today released, on its website, the final Report of the Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications. It had released the draft report for public comment on February-March 2014. Cognisant of the fact that non-PKI enabled payment systems, such as, clearing (Magnetic Ink Character Recognition (MICR/Non MICR), electronic credit system, credit card and debit cards contributed 75 per cent in vo
The Reserve Bank of India has today released, on its website, the final Report of the Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications. It had released the draft report for public comment on February-March 2014. Cognisant of the fact that non-PKI enabled payment systems, such as, clearing (Magnetic Ink Character Recognition (MICR/Non MICR), electronic credit system, credit card and debit cards contributed 75 per cent in vo
ਮਾਰਚ 19, 2014
RBI Seeks Feedback on Concept Paper on Trade Receivables and Credit Exchange for Financing MSMEs
The Reserve Bank of India has today sought feedback on the Concept Paper on Trade Receivables and Credit Exchange for Financing Micro, Small and Medium Enterprises (MSMEs). 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 20, 2014. The concept paper is available on RBI website (www.rbi.org.in).
The Reserve Bank of India has today sought feedback on the Concept Paper on Trade Receivables and Credit Exchange for Financing Micro, Small and Medium Enterprises (MSMEs). 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 20, 2014. The concept paper is available on RBI website (www.rbi.org.in).
ਮਾਰਚ 05, 2014
RBI extends Date for Comments on Report of the Group on Enabling PKI in Payment System Applications to March 15, 2014
The Reserve Bank of India has extended the date for sending comments on Report of the Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications. The comments may now be emailed or sent by post to the Chief General Manager-In-Charge, Department of Information Technology, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001 on or before March 15, 2014. Background The Reserve Bank of India had, in
The Reserve Bank of India has extended the date for sending comments on Report of the Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications. The comments may now be emailed or sent by post to the Chief General Manager-In-Charge, Department of Information Technology, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001 on or before March 15, 2014. Background The Reserve Bank of India had, in
ਫ਼ਰ 07, 2014
RBI authorises Four Non-Bank Entities to set up White Label ATMS
The Reserve Bank of India has issued Certificate of Authorisation to the following four non-bank entities for setting up and operating White Label ATMs (WLAs) in India: I. Tata Communications Payment Solutions Limited, Mumbai II. Prizm Payment Services Pvt. Ltd., Mumbai III. Muthoot Finance Limited, Kochi IV. Vakrangee Limited, Mumbai Of these, first three WLA operators have already launched their services and Vakrangee Limited is likely to commence its service shortl
The Reserve Bank of India has issued Certificate of Authorisation to the following four non-bank entities for setting up and operating White Label ATMs (WLAs) in India: I. Tata Communications Payment Solutions Limited, Mumbai II. Prizm Payment Services Pvt. Ltd., Mumbai III. Muthoot Finance Limited, Kochi IV. Vakrangee Limited, Mumbai Of these, first three WLA operators have already launched their services and Vakrangee Limited is likely to commence its service shortl
ਫ਼ਰ 07, 2014
RBI releases Report on Enabling PKI in Payment System Applications
The Reserve Bank of India has today released, on its website for public comments, the Report of the Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications. The comments may be emailed or sent by post to the Chief General Manager-In-Charge, Department of Information technology, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai–400001 on or before February 28, 2014. Cognisant of the fact that non-
The Reserve Bank of India has today released, on its website for public comments, the Report of the Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications. The comments may be emailed or sent by post to the Chief General Manager-In-Charge, Department of Information technology, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai–400001 on or before February 28, 2014. Cognisant of the fact that non-
ਜਨ 06, 2014
CCIL to issue Unique Identity Codes to Entities in Financial Transactions
The Reserve Bank of India has selected the Clearing Corporation of India Ltd. (CCIL) to act as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs)in India. The LEI is a 20-character unique identity code assigned to entities which are parties to a financial transaction. As an LOU, CCIL will issue unique identifier codes to all eligible and desirous legal entities participating in financial markets across the globe on a non-profi
The Reserve Bank of India has selected the Clearing Corporation of India Ltd. (CCIL) to act as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs)in India. The LEI is a 20-character unique identity code assigned to entities which are parties to a financial transaction. As an LOU, CCIL will issue unique identifier codes to all eligible and desirous legal entities participating in financial markets across the globe on a non-profi
ਜਨ 01, 2014
RBI grants Qualified Central Counterparty Status to CCIL
The Reserve Bank has today granted the status of a Qualified Central Counterparty (QCCP) to Clearing Corporation of India Ltd. (CCIL) in the Indian jurisdiction. CCIL has qualified as a QCCP in view of the fact that it is authorised and supervised by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007. It is also subjected, on an on-going basis, to rules and regulations that are consistent with the Principles for Financial Market Infrastructur
The Reserve Bank has today granted the status of a Qualified Central Counterparty (QCCP) to Clearing Corporation of India Ltd. (CCIL) in the Indian jurisdiction. CCIL has qualified as a QCCP in view of the fact that it is authorised and supervised by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007. It is also subjected, on an on-going basis, to rules and regulations that are consistent with the Principles for Financial Market Infrastructur
ਦਸੰ 24, 2013
RBI cautions users of Virtual Currencies against Risks
The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins,
The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins,
ਅਕਤੂ 19, 2013
RBI Governor launches new ISO 20022 compliant RTGS System
Dr. Raghuram Rajan, Governor, Reserve Bank of India, today launched the new Real Time Gross Settlement (RTGS) system of the Reserve Bank of India. Complimenting the entire team for successfully completing the project, the Governor said, "The new RTGS system is a great example of what we are capable of when we put our minds to it." He added that payment system like plumbing has to be efficient and ahead of the financial markets to be able to take care of the future dev
Dr. Raghuram Rajan, Governor, Reserve Bank of India, today launched the new Real Time Gross Settlement (RTGS) system of the Reserve Bank of India. Complimenting the entire team for successfully completing the project, the Governor said, "The new RTGS system is a great example of what we are capable of when we put our minds to it." He added that payment system like plumbing has to be efficient and ahead of the financial markets to be able to take care of the future dev
ਅਕਤੂ 09, 2013
RBI appoints Technical Committee on Mobile Banking
The Reserve Bank of India has announced the constitution of a Technical Committee on Mobile Banking, to examine the options/alternatives including the feasibility of using encrypted SMS based funds transfer using an application that can run on any type of handset for expansion of mobile banking in the country. Terms of Reference of the Committee are: a. to conduct an in-depth study of the challenges faced by banks in taking mobile banking forward to the desired level;
The Reserve Bank of India has announced the constitution of a Technical Committee on Mobile Banking, to examine the options/alternatives including the feasibility of using encrypted SMS based funds transfer using an application that can run on any type of handset for expansion of mobile banking in the country. Terms of Reference of the Committee are: a. to conduct an in-depth study of the challenges faced by banks in taking mobile banking forward to the desired level;
ਮਈ 03, 2013
Authorisation under the Payment and Settlement Systems Act, 2007 - Tata Communications Payment Solutions Limited, Mumbai
Tata Communications Payment Solutions Limited, Mumbai; a subsidiary of Tata Communications Limited, has been issued Certificate of Authorisation by the Reserve Bank for setting up and operating White Label ATMs (WLAs) in India. Earlier in June 2012, the Reserve Bank of India had issued policy guidelines permitting non-bank entities to set up and operate WLAs in the country after seeking Authorisation under the Payment and Settlement Systems Act, 2007. Hitherto, only b
Tata Communications Payment Solutions Limited, Mumbai; a subsidiary of Tata Communications Limited, has been issued Certificate of Authorisation by the Reserve Bank for setting up and operating White Label ATMs (WLAs) in India. Earlier in June 2012, the Reserve Bank of India had issued policy guidelines permitting non-bank entities to set up and operate WLAs in the country after seeking Authorisation under the Payment and Settlement Systems Act, 2007. Hitherto, only b
ਮਾਰਚ 07, 2013
XSDs, Rules, Sample Messages, revised FAQ w.r.t ISO 20022 standard Message formats for Next Generation RTGS (NG-RTGS) System
The Reserve Bank of India has placed on its website today, ISO 20022 standard message formats - Rules, XSDs, Mapping Document, API Web Service information and Revised FAQs for Next Generation Real Time Gross Settlement System (NG-RTGS) for wider dissemination. With reference to the earlier press release dated December 28, 2012 on ISO 200022 Standard Message Formats for the Next Generation Real Time Gross Settlement (NG-RTGS) System, the revised messages formats along
The Reserve Bank of India has placed on its website today, ISO 20022 standard message formats - Rules, XSDs, Mapping Document, API Web Service information and Revised FAQs for Next Generation Real Time Gross Settlement System (NG-RTGS) for wider dissemination. With reference to the earlier press release dated December 28, 2012 on ISO 200022 Standard Message Formats for the Next Generation Real Time Gross Settlement (NG-RTGS) System, the revised messages formats along
ਫ਼ਰ 28, 2013
RBI releases Security and Risk Mitigation measures for Electronic Payment Transactions
Payments effected through alternate payment products/channels are gaining traction among the customers, with more and more banks providing such facilities to their customers. In this scenario, it is imperative to ensure safety and security of such transactions effected through these channels. Of late, there have been reports of frauds committed through the electronic payment channels and fraudulent usage of cards both at domestic and international locations. Even whil
Payments effected through alternate payment products/channels are gaining traction among the customers, with more and more banks providing such facilities to their customers. In this scenario, it is imperative to ensure safety and security of such transactions effected through these channels. Of late, there have been reports of frauds committed through the electronic payment channels and fraudulent usage of cards both at domestic and international locations. Even whil
ਜਨ 16, 2013
RBI Report on Uniform Routing Code and Account Number Structure
The Reserve Bank of India, today, released on its website the “Report of Technical Committee constituted to examine uniform routing code and account number structure” in banks in the country. The Committee was formed to look into the feasibility of: (a) doing away with branch identifier in Indian Financial System Code (IFSC); (b) desirability of implementing International Bank Account Number (IBAN) replacing multiple identifiers for all financial transactions; (c) har
The Reserve Bank of India, today, released on its website the “Report of Technical Committee constituted to examine uniform routing code and account number structure” in banks in the country. The Committee was formed to look into the feasibility of: (a) doing away with branch identifier in Indian Financial System Code (IFSC); (b) desirability of implementing International Bank Account Number (IBAN) replacing multiple identifiers for all financial transactions; (c) har
ਦਸੰ 31, 2012
RBI extends Time for Submitting Applications for White Label ATMs
The Reserve Bank of India has extended the date for submission of application for deployment of White Label ATMs up to January 15, 2013. The timeline, however, has been extended only for those entities that satisfy all the other criteria stipulated in the Reserve Bank guidelines dated June 20, 2012, but are waiting for capital infusion from their overseas principals and FIPB permission. The Reserve Bank communicated this in a circular placed on its website today. The
The Reserve Bank of India has extended the date for submission of application for deployment of White Label ATMs up to January 15, 2013. The timeline, however, has been extended only for those entities that satisfy all the other criteria stipulated in the Reserve Bank guidelines dated June 20, 2012, but are waiting for capital infusion from their overseas principals and FIPB permission. The Reserve Bank communicated this in a circular placed on its website today. The
ਦਸੰ 28, 2012
ISO 20022 Standard Message Formats for Next Generation RTG System
The Reserve Bank of India has placed on its website (www.rbi.org.in) today, ISO 20022 standard message formats for Next Generation Real Time Gross Settlement System (NG-RTGS) for wider dissemination. It was announced in the Monetary Policy Statement for 2011-2012 that the Reserve Bank would implement the Next Generation Real Time Gross Settlement (NG-RTGS) System having several advanced features, such as, liquidity management facility, extensible markup language (XML)
The Reserve Bank of India has placed on its website (www.rbi.org.in) today, ISO 20022 standard message formats for Next Generation Real Time Gross Settlement System (NG-RTGS) for wider dissemination. It was announced in the Monetary Policy Statement for 2011-2012 that the Reserve Bank would implement the Next Generation Real Time Gross Settlement (NG-RTGS) System having several advanced features, such as, liquidity management facility, extensible markup language (XML)
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