India: Master direction on regulation of payment aggregators, including wind-up provisions for non-compliant entities entered into force
Description
Master direction on regulation of payment aggregators, including wind-up provisions for non-compliant entities entered into force
On 28 February 2026, the Master direction on regulation of payment aggregators, including wind-up provisions for non-compliant entities, entered into force. The direction provides that entities that fail to apply for authorisation as a payment aggregator by 31 December 2025 must intimate their bankers forthwith and wind up their payment aggregator business by 28 February 2026.
Original sourceScope
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
Hide details
2025-09-15
in grace period
2025-12-31
in force
2026-01-01
in force