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RBI Issued ‘Regulation of Payment Aggregators Directions, 2025’.

Banking & Finance | Dated: 18 Sep 2025

In September 2025, the Reserve Bank of India (RBI) issued the ‘Reserve Bank of India (Regulation of Payment Aggregators) Directions, 2025’, providing regulatory guidelines for Payment Aggregators (PAs) and recommending baseline technology standards for Payment Gateways (PGs).

🎯 Key Highlights:

  • - The Directions apply to all bank and non-bank entities undertaking the business of PAs. Non-bank PAs must obtain RBI authorization under the Payment and Settlement Systems Act, 2007.
  • - Entities seeking to operate as PAs must be incorporated in India and maintain a minimum net worth of ₹15 crore (cr) at the time of application, which should increase to ₹25 cr by the end of the third financial year (FY).

💡 Other Important Facts:

  • (i) PAs must be professionally managed and meet the ‘fit and proper’ criteria for promoters and directors. Any acquisition or change in management must be reported to RBI within 15 days.
  • (ii) Non-bank PAs are required to maintain merchant funds in separate escrow accounts with Scheduled Commercial Banks (SCBs). RBI also urged PGs to adopt recommended security standards to strengthen the digital payment infrastructure.

📚 Test Your Knowledge:

Recently, which institution issued the ‘Regulation of Payment Aggregators Directions, 2025’?

Correct Answer: RBI

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai