| Topic | Key Details |
|---|---|
| CIMS Launch | RBI launched next-gen Centralised Information Management System (CIMS) for payment and settlement-related returns to improve data accuracy and automation. |
| Master Direction on Payment Aggregators (PA), 2025 | Issued: September 15, 2025, effective immediately. Applies to banks, non-bank PAs (online, physical, cross-border), AD Banks, and SCBs. |
| Payment Aggregator Definitions | PA (collects payments), PG (tech routing), PA-P (physical), PA-O (online), PA-CB (cross-border). |
| Authorisation & Capital Requirements | Non-banks must be Indian company, ₹15 crore net worth at application, ₹25 crore by end of 3rd FY. Existing PA-P must apply by Dec 31, 2025, wind up by Feb 28, 2026. |
| Governance & Security | Must comply with PCI-DSS, PCI-SSF, RBI Cyber Resilience, Data Localisation Circular, CERT-In annual audit. Board must be fit & proper, have Dispute Resolution Policy and Grievance Redressal Officer. |
| Operational Guidelines | Serve only contracted merchants. Refunds to original payment mode. Outsourcing to PGs allowed. |
| Cross-Border Rules | Maintain separate Inward and Outward accounts, no netting. FX transactions routed via AD Cat-I banks. Limit: ₹25 lakh per transaction. |
| KYC / Due Diligence | Follow RBI KYC Master Directions. Simplified KYC for small merchants: PAN verification, CPV, one OVD. |
| SPDs in Non-Deliverable Rupee Derivative Markets | SPDs (AD Cat-III) can now transact in INR-based NDDCs with residents, non-residents, AD Cat-I IBUs, and overseas banks. |
| RBI Authentication Mechanisms Directions, 2025 | Effective: April 1, 2026. Requires 2FA for digital payments, one factor must be dynamic. Issuers liable for losses. Comply with Digital Personal Data Protection Act, 2023. Exemptions: small-value transactions, recurring mandates. |
| Investment by Co-operative Banks in SSE | StCBs and CCBs can invest up to 5% of capital + reserves in NABARD's SSE. Exempted from non-SLR investment limits and unlisted restrictions. |
| Special Clearing in CTS | Special clearing sessions on October 3, 2025, shifting to Continuous Clearing from October 4, 2025. Revised timings shared with banks. |
| RBI Settlement of Claims for Deceased Customers | Simplified claim process. With nominee: immediate payment. Without nominee: simplified up to ₹15 lakh. Deposits: bank rate + 4% p.a. for delays. Lockers: ₹5,000/day for delay. |
| RBI Interest Rate on Advances Amendment, 2025 | Banks can reduce loan spreads before 3-year reset. Borrowers may switch to fixed rate. Effective: October 1, 2025. |
| RBI Lending Against Gold & Silver Collateral Amendment, 2025 | Loans for purchase/investment in gold/silver not permitted. Working capital loans to manufacturers using gold/silver as raw material permitted for productive use. |
| Basel III - Perpetual Debt Instruments (PDIs) under AT1 Capital | Based on latest audited or limited review financials. Aligns capital treatment across institutions. |
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