Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Latest Circulars »
Open DEMAT Account in 24 hrs
 Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra Extension of Period
 Master Circular Basel III Capital Regulations
 Report on Currency and Finance (RCF) for the year 2022-23
 Amendment to the Master Direction (MD) on KYC
 Future-Proofing the Indian Financial System (Inaugural Address by Shri Shaktikanta Das, Governor Reserve Bank of India - April 27, 2023 - Delivered at the Global Conference on Financial Resilience organised by the College of Supervisors in Mumbai)
  RBI Working Paper No.05/2023: Reading Consumers Minds - An Analysis of Inflation Expectations
 Annual Closing of Government Accounts Transactions of Central / State Governments Special Measures for the Current Financial Year (2022-23)
 Directions under Section 35 A read with section 56 of the Banking Regulation Act 1949 (As Applicable to Co-operative Societies) Pune Sahakari Bank Ltd., Shivajinagar, Pune
 Designation of 1 individual and 2 organisations under Section 35(1) (a) and 2(1) (m) of the Unlawful Activities (Prevention) Act,1967 and their listing in the Fourth and First Schedule of the Act- Reg.
 Applications of Online Payment Aggregators received under the Payment and Settlement Systems Act, 2007 - Status
 RBI imposes monetary penalty on The Vaidyanath Urban Co-operative Bank Limited, Parli Vaijnath, Beed (Maharashtra)
  Finance Minister addresses the Central Board of Directors of Reserve Bank of India
  Finance Minister addresses the Central Board of Directors of Reserve Bank of India
 Issuance of PPIs to Foreign Nationals / Non-Resident Indians (NRIs) visiting India
 RBI statement on the health of Indian Banking sector

Applications of Online Payment Aggregators received under the Payment and Settlement Systems Act, 2007 - Status
February, 16th 2023

With a view to bringing entities undertaking online payment aggregation business within the regulatory fold, Reserve Bank of India (RBI) has issued circulars dated March 17, 2020 and March 31, 2021 on “Guidelines on Regulation of Payment Aggregators and Payment Gateways” (Guidelines). In terms of the Guidelines, online non-bank Payment Aggregators (PAs) – existing as on March 17, 2020 (referred to as existing PAs) – were required to apply to RBI by September 30, 20211 for seeking authorisation under the Payment and Settlement Systems Act, 2007 (PSS Act). Further, another extension was allowed to all such PAs to submit their application by September 30, 2022 (circular dated July 28, 2022).

While the exercise of scrutiny of applications of PAs is an ongoing process, for the purpose of disseminating information and ensuring greater transparency, the list of entities who have submitted application to RBI seeking authorisation to act as online PAs under the PSS Act along with the current status of their application as on February 15, 2023 is published, which will be updated on a fortnightly basis.

All stakeholders are advised to transact with only those existing PAs (a) who have been granted in-principle authorisation or (b) whose application is currently under process.

Stakeholders may transact with new PAs only after these entities have received ‘authorisation’2 under Section 7 of the PSS Act from the Reserve Bank of India.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/1726


1 Earlier timeline was June 30, 2021; this was extended, vide RBI circular dated May 21, 2021 on “Relaxation in timeline for compliance with various payment system requirements”.

2 The ‘List of Authorised Entities – Payment System Operators’ is available on the RBI website under the hyperlink, https://rbi.org.in/Scripts/PublicationsView.aspx?id=12043.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting