India: Master direction on regulation of payment aggregators, 2025 entered into force with grace period
Description
Master direction on regulation of payment aggregators, 2025 entered into force with grace period
On 15 September 2025, the Reserve Bank of India (RBI) issued the Regulation of Payment Aggregators Directions, 2025. The directions apply to all bank and non-bank payment aggregators operating in India. They cover three categories, including payment…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank
Complete timeline of this policy change
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2025-09-15
in grace period
2025-12-31
in force
2026-01-01
in force