Payment and Settlement Systems

1. Introduction 1.1. The Reserve Bank of India (RBI), as the regulator of payment and settlement systems in the country, sets the necessary regulatory framework, generally through a consultative process, to ensure that different types of payment systems operate in the country to meet the various payment needs in the economy. Over a period of time, a bouquet of payment instruments has evolved to meet the needs of different segments of users. 1.2. As the payment ecosyst

A. Objective To set up new pan-India umbrella entity / entities focussing on retail payment systems. Such an entity shall be a Company incorporated in India under the Companies Act, 2013. The Company may be a ‘for-profit’ or a Section 8 Company as may be decided by it. B. Authorisation under the Payment and Settlement Systems Act, 2007 (PSS Act) The NUE shall be a Company authorised by Reserve Bank of India (RBI) under Section 4 of the PSS Act, 2007. It shall be gover

RBI/DPSS/2016-17/ DPSS.CO.PD. No. /02.14.006/2016-17 March 20, 2017 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all prospective Prepaid Payment Instrument Issuers (Draft Master Directions for Comments) Dear Sir/ Madam, Master Directions on Issuance and Operation of Prepaid Payment Instruments in India As you are aware, the Reserve Bank of India has, from time to time, issued a number of circulars containing policy guidelines on Is

DPSS.CO.PD.No. /02.14.003/2016-17 February 16, 2017 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks and Small Finance Banks / All Card Network Providers Dear Madam / Sir, Draft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions Recent developments, including the comm

DPSS.CO.PD.No./02.14.003/2014-2015 May 28, 2015 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid PaymentInstrument Issuers (DRAFT CIRCULAR FOR PUBLIC COMMENTS) Madam/Dear Sir Prepaid Payment Instrument (PPI) guidelines – Introduction of New Category of PPI for Mass Transit Systems (PPI- MTS) A reference is invited to the Master circular issued vide RBI/2014-2015/105 DPSS.CO.PD. PPI.No. 3/02.14.006/2014-15

DPSS.CO.PD.No. /02.14.003/2014-2015 March 13, 2015 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Authorised Card Payment Networks (Draft Circular for comments) Madam / Dear Sir Card Payments - Removal of requirement of Additional Factor of Authentication for small value card present transactions Reserve Bank of India

Introduction 1. Bill payment is a major component of the retail payment transactions. The Committee to study the Feasibility of Implementation of GIRO based Payment Systems (Chairman: Shri G. Padmanabhan, Executive Director, RBI) (2013) had estimated that over 30,800 million bills amounting to Rs.6223 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,

Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country, continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. In order to address this pan-India issue through setting up of an institutional mechanism for financing trade receivables,the Reserve Bank of India had published a concept paper on “Micro, Smal

PREFACE The role of Micro, Small and Medium Enterprises (MSMEs) in the economic landscape of the country needs no reiteration. Given the potential of this segment to unlock growth, employment and inclusion in the economy and society, it is indeed the need of the hour to address concerns related to financing of this segment. Despite efforts on multiple fronts as well as enabling legal and regulatory provisions, the MSME segment continues to be belaboured with the probl

DPSS.CO.PD. No. /02.10.002/2011-2012 February , 2012 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks /. District Central Co-operative Banks Authorised ATM Networks & Prospective White Label ATM operators. Dear Sir; Deployment of White Label ATMs (WLAs) As per the existing rules/regulations only banks are being permitted to set up Automated Teller Machi