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5 days ago · With the aim to enhance the transparency, security, and reliability of payment services in India, the RBI on April 16, 2024 released draft directions ("Draft Directions") broadening the ambit of its payment aggregator ("PA") regulations to include physical point-of-sale ("P-POS") payment providers.2 By virtue of the Draft Directions, P-POS will now be required to apply for authorization from the RBI and must adhere to a series of detailed guidelines relating to merchant onboarding, customer ...
3 days ago · 27 Sep 2024 2 min read. We are pleased to release the August 2024 edition of the RBI Regulatory Banking Insights, which brings RBI regulatory updates for the month. This edition provides a comprehensive analysis of the consolidated regulatory amendments and Master Directions issued by the Reserve Bank of India (RBI) during July and August ...
3 days ago · Higher balance of payments surplus expected for 2024-2025 The latest projections indicate an improved balance of payments (" BOP ") outlook for 2024 and 2025, driven by sustained financial inflows and global economic stability.
3 days ago · Another significant launch was the Bharat Bill Pay for Business platform. This B2B platform aims to streamline invoicing, payments, and collections by unifying billers, payers, banks, and aggregators under standardized APIs.
4 days ago · In addition, the RBI’s statement aims to simplify the membership process for Bharat Bill Payment Operating Units with the goal of enhancing participation and optimising the effectiveness of the Bharat Bill Payment System (Chavan, 2022). In addition, the Reserve Bank of India (RBI) has authorised banks to issue RuPay prepaid forex cards, which may be used at ATMs, point of sale (PoS) machines and online merchants globally, in order to provide Indian travellers more payment options when they ...
5 days ago · New RBI credit card rule:Bharat BillPay is a unified ecosystem that links banks and non-banks in the bill aggregation industry, as well as billers, payment service providers, and retail bill outlets. Below is a list of credit card billers currently active on BBPS as of July 15, 2024.
3 days ago · Integrated Bill Payment: Pay your bills seamlessly through both BBPS (Bharat Bill Payment System) and non-BBPS channels. Pay to Contact: Simplify fund transfers by sending money directly to contacts saved on your device.
