Press Releases - Payment and Settlement Systems - RBI - Reserve Bank of India
Press Releases
Aug 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
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Jul 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
May 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
Mar 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
Mar 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
Feb 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
Dec 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
Nov 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
Aug 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
Aug 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
Jul 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
May 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
Apr 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
Mar 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).
Mar 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
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
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,
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