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Payment System


Payment System


Payments Vision 2028 - https://inquisitivemind5.blogspot.com/2026/05/payments-vision-2028.html

Digital Payments – E-mandate Framework 2026 - https://inquisitivemind5.blogspot.com/2026/04/digital-payments-e-mandate-framework.html

Guidelines to facilitate faster cross-border inward payments - https://inquisitivemind5.blogspot.com/2026/04/guidelines-to-facilitate-faster-cross.html

Digital Payments Awareness Week 2026 - https://inquisitivemind5.blogspot.com/2026/03/digital-payments-awareness-week-2026.html

Framework for recognition of Self-Regulatory Organisation (SRO) for Payment System Operators (PSOs) - https://inquisitivemind5.blogspot.com/2025/11/framework-for-recognition-of-self.html

Authentication mechanisms for digital payment transactions - https://inquisitivemind5.blogspot.com/2025/10/authentication-mechanisms-for-digital.html

Directions on Regulation of Payment Aggregators (PAs) - https://inquisitivemind5.blogspot.com/2025/10/directions-on-regulation-of-payment.html

Continuous Clearing and Settlement on Realisation in Cheque Truncation System (CTS) - https://inquisitivemind5.blogspot.com/2025/08/continuous-clearing-and-settlement-on.html

Due Diligence of AePS Touchpoint Operators - https://inquisitivemind5.blogspot.com/2025/07/due-diligence-of-aeps-touchpoint.html

Framework for imposing monetary penalty and compounding of offences under the Payment and Settlement Systems Act, 2007 - https://inquisitivemind5.blogspot.com/2025/02/framework-for-imposing-monetary-penalty.html

Unified Payment Interface (UPI) - https://inquisitivemind5.blogspot.com/2025/01/unified-payment-interface-upi.html

Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators (PSOs) - https://inquisitivemind5.blogspot.com/2024/08/cyber-resilience-and-digital-payment.html

Domestic Money Transfer - https://inquisitivemind5.blogspot.com/2024/07/domestic-money-transfer.html

What is Project Nexus? - https://inquisitivemind5.blogspot.com/2024/07/what-is-project-nexus.html

Arrangements with Card Networks for issue of Credit Cards - https://inquisitivemind5.blogspot.com/2024/03/arrangements-with-card-networks-for.html

Payments Infrastructure Development Fund (PIDF) - https://inquisitivemind5.blogspot.com/2024/01/payments-infrastructure-development.html

Highlights of RBI Annual Report 2022-23– Chapter 7 to 12 - https://inquisitivemind5.blogspot.com/2023/07/highlights-of-rbi-annual-report-2022-23_27.html

Immediate Payment Service (IMPS) vs Unified Payment Interface (UPI) - https://inquisitivemind5.blogspot.com/2023/01/immediate-payment-service-imps-vs.html

National Electronic Funds Transfer (NEFT) vs Real Time Gross Settlement (RTGS) - https://inquisitivemind5.blogspot.com/2023/01/national-electronic-funds-transfer-neft.html

Small Value Digital Payments in Offline Mode - https://inquisitivemind5.blogspot.com/2022/12/small-value-digital-payments-in-offline.html?m=1

What are Negotiable Instruments? - https://inquisitivemind5.blogspot.com/2022/12/what-are-negotiable-instruments.html?m=1

Interoperable Card-less Cash Withdrawal (ICCW) at ATMs - https://inquisitivemind5.blogspot.com/2022/11/interoperable-card-less-cash-withdrawal.html?m=1

What are restrictions on storage of actual card data? - https://inquisitivemind5.blogspot.com/2022/11/what-are-restrictions-on-storage-of.html

What is tokenisation of card transactions? - https://inquisitivemind5.blogspot.com/2022/11/what-is-tokenisation-of-card.html

Requirement of prior RBI approval for non-bank PSOs - https://inquisitivemind5.blogspot.com/2022/10/requirement-of-prior-rbi-approval-by.html

What is Legal Entity Identifier (LEI)? - https://inquisitivemind5.blogspot.com/2022/10/what-is-legal-entity-identifier-lei.html

What is Reserve Bank of India – Digital Payments Index (RBI-DPI)? - https://inquisitivemind5.blogspot.com/2022/10/what-is-reserve-bank-of-india-digital.html

What is Bharat Bill Payment System (BBPS)? - https://inquisitivemind5.blogspot.com/2022/10/what-is-bharat-bill-payment-system-bbps.html

Are your ATM transactions free? - https://inquisitivemind5.blogspot.com/2022/09/are-your-atm-transactions-free.html


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Credit Cards and Debit Cards

Reserve Bank of India (RBI) has issued directions on issuance of credit cards and debit cards. To whom are the directions applicable? The directions are applicable to the following Regulated Entities (REs) – Commercial Banks  Small Finance Banks (SFBs) Regional Rural Banks (RRBs) Primary (Urban) Co-operative Banks (UCBs) Non-Banking Financial Companies (NBFCs) for all layers – NBFC-Investment and Credit Companies (NBFC-ICC) NBFC-Factor  NBFC-Micro Finance Institutions (NBFC-MFI)  Housing Finance Company (HFC)  What is a credit card? Credit Card is a physical / virtual payment instrument issued with a pre-approved revolving credit limit that can be used to purchase goods and services or draw cash advances. What is a debit card? Debit Card is a physical / virtual payment instrument linked to a Savings Bank / Current Account which can be used to withdraw cash, make online payments, do Point of Sale (PoS) terminal / Quick Response (QR) code transactions, fund transfer, e...
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Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)

Reserve Bank of India (RBI) has issued the directions on maintenance of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by banks. To whom are the directions applicable? The directions are applicable to the following Regulated Entities (REs) – Commercial Banks  Small Finance Banks (SFBs) Payments Banks (PBs) Local Area Banks (LABs) Regional Rural Banks (RRBs) Primary (Urban) Co-operative Banks (UCBs) Rural Co-operative Banks – State Co-operative Banks (StCBs) District Central Co-operative Banks (DCCBs) What is CRR? Every bank shall maintain in India by way of cash reserve, a sum equivalent to such percent of its Net Demand and Time Liabilities (NDTL) in India, as the RBI in terms of Section 42(1) of the RBI Act, 1934 (for scheduled banks) and Section 18(1) of the Banking Regulation Act (BR Act), 1949 (for non-scheduled banks) [including provisions of Section 18(1) of the BR Act as applicable to co-operative banks], may specify. What is incremental CRR? In terms of Secti...
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Special Rupee Vostro Accounts (SRVAs)

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Payment of Agency Commission to Agency Banks (ABs) and Disbursement of Government Pension by ABs

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Highlights of RBI Annual Report 2025-26 – Chapter 7 to 12

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