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Indian Fintech Paytm Explains How National Electronic Funds Transfer Aims to Promote Digital Transactions

Indian Fintech Paytm Explains How National Electronic Funds Transfer Aims to Promote Digital Transactions
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IFSCA in process of setting up International Arbitration Centre in GIFT IFSC

IFSCA in process of setting up International Arbitration Centre in GIFT IFSC
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Indian expatriates need to be aware of this change in banking rules

Indian expatriates need to be aware of this change in banking rules
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RBI changes RTGS, NEFT payment rules - know details here

RBI changes RTGS, NEFT payment rules - know details here
The Reserve Bank of India said that it has allowed non-banks to participate in its CPS through RTGS and NEFT in a phased manner.
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Updated: Jul 29, 2021, 07:50 AM IST
The Reserve Bank (RBI) authorised non-bank payment system providers (PSPs) to participate in centralized payment systems (CPS) such as its Real Time Gross Settlement (RTGS) and the National Electronic Fund Transfer (NEFT) System, on Wednesday (July 28). The Reserve Bank said that it would be implemented in a phased manner.
In a notification that the RBI issued on Wednesday, it said that on a review of extant arrangements and after detailed discussions with PSPs, it is advised that, in the first phase, authorised non-bank PSPs, viz. PPI issuers, card networks and white label ATM operators shall be eligible to participate in CPS as direct members . ....

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RBI allows card networks, wallets to access RTGS, NEFT

RBI allows card networks, wallets to access RTGS, NEFT
By
IANS
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Reserve Bank of India (RBI). (File Photo: IANS). Image Source: IANS News
New Delhi, July 29 : The Reserve Bank of India (RBI) has decided to allow payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems.
This would be the the first phase of its plan to bring non-banks in the same platform.
In April, RBI had said that it would encourage participation of non-banks in Reserve Bank of India-operated Centralised Payment Systems (CPS) RTGS and NEFT systems in a phased manner. ....

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