On 17 September, the Reserve Bank of India (RBI) issued a discussion paper on Guidelines for Payment Gateways and Payment Aggregators which seeks to develop a framework to regulate intermediaries such as the payment gateways and payment aggregators, facilitating online payments. These intermediaries shall be authorised under the Payment and Settlement Systems Act, 2007 (PSSA), suggests the paper.
In the Statement on Developmental and Regulatory Policies released with the Sixth Bi-monthly Monetary Policy Statement for 2018-19, the Reserve Bank had announced that a discussion paper will be placed in the public domain for consultation with the stakeholders on comprehensive guidelines covering payments related activities of payment gateway providers and payment aggregators.
Accordingly, RBI has invited comments on the policy paper from all stakeholders and members of public by October 17, 2019.
Nasscom has prepared a Policy Brief on the draft guidelines (link).
You are requested to email us your inputs at firstname.lastname@example.org and email@example.com by October 10, 2019 (Thursday) so that Nasscom can consider them in its response to RBI.