Master Directions on Authorisation to operate a Payment System

RBI/DPSS/2026-27/401
DPSS.CO.AUTH.No.S-239/02-27-004/2026-27

June 15, 2026

Master Directions on Authorisation to operate a Payment System

Table of Contents

1. Short Title and Commencement

2. Definitions

3. Applicability

4. Eligibility Criteria and Requirements

5. Investment in Entities from FATF Non-Compliant Jurisdictions

6. Validity period of Certificate of Authorisation

7. Voluntary Surrender of CoA by PSO’s Authorised under PSS Act

8. Cooling Period

9. Miscellaneous

10. Repeal and Other Provisions

These Directions are issued in exercise of powers conferred in Chapter III on Authorisation of Payment Systems and issued under Section 10(2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007) hereinafter referred as “PSS Act”.

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