RBI introduces Digital Payment Index to capture the extent of digitisation of payments across the country; RBI-DPI scores to be published on RBI’s website on a semi-annual basis from March 2021 by Lexplosion Solution | Jan 7, 2021 | Central, OPS, Payment System OperatorsThe Reserve Bank of India (“RBI”) in a Press Release dated 1st January 2021 has introduced RBI... Read More
Owing to the pandemic, RBI increases the per transaction limit for AFA relaxation for contactless card transactions to Rs.5,000/- by Lexplosion Solution | Dec 10, 2020 | Central, OPS, Payment System OperatorsIn a Circular dated 4th December, 2020 the Reserve Bank of India has issued information regarding... Read More
RBI introduces cooling period of one year for entities whose application for authorisation for operating a Payment System is returned for any reason by RBI by Lexplosion Solution | Dec 10, 2020 | Central, OPS, Payment System OperatorsThe Reserve Back of India (RBI) has in a Circular dated December 7, 2020 introduced the concept of... Read More
RBI issues information regarding “Processing of e-mandates for recurring transactions”; increases the limit for AFA relaxation to ₹ 5,000/- per transaction, with effect from January 1, 2021 by Lexplosion Solution | Dec 10, 2020 | Central, OPS, Payment System OperatorsThe Reserve Bank of India (“RBI”), in a Circular dated 4th December, 2020 has issued information... Read More
RBI allows PPI Issuers and Payment Aggregators to maintain one additional escrow account in a different scheduled commercial bank by Lexplosion Solution | Nov 24, 2020 | Central, OPS, Payment System OperatorsThe Reserve Back of India (RBI) has in a notification dated November 17, 2020 allowed Prepaid... Read More
RBI invites comments on the “Draft Framework for recognition of a Self-Regulatory Organisation for Payment System Operators”; comments must be e-mailed to RBI on or before 15.09.2020 by Lexplosion Solution | Aug 21, 2020 | Central, CORP, Payment System OperatorsIn a Press Release dated 18th August, 2020 the Reserve Bank of India (“RBI”) has invited comments... Read More
