Press Releases - Payment and Settlement Systems - RBI - Reserve Bank of India
Press Releases
Feb 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
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Feb 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-
Jan 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
Jan 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
Dec 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,
Oct 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
Oct 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;
May 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
Mar 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
Feb 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
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