Mumbai : The Reserve Bank of India (RBI) RBI has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the UPI. This was announced by the RBI Governor during RBI’s bi-monthly monetary policy statement.
“At present, the facility of card-less cash withdrawal through ATMs is limited only to a few banks. It is now proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the UPI. In addition to enhancing ease of transactions, the absence of the need for physical card for such transactions would help prevent frauds such as card skimming, card cloning, etc” he said.
Bharat Bill Payment System – Rationalisation of Net-worth Requirement for Operating Units
Bharat Bill Payment System (BBPS), an interoperable platform for bill payments, has seen an increase in the volume of bill payments and billers over the years. To further facilitate greater penetration of bill payments through the BBPS and to encourage participation of a greater number of non-bank Bharat Bill Payment Operating Units in the BBPS, it is proposed to reduce the net worth requirement of such entities from ₹100 crore to ₹25 crore.
Cyber Resilience and Payment Security Controls of Payment System Operators (PSOs)
Payment systems play a catalytic role in facilitating financial inclusion and promoting financial stability. To ensure that our payment systems remain resilient to 10 conventional and emerging risks, specifically those relating to cyber security, it is proposed to issue guidelines on Cyber Resilience and Payment Security Controls for Payment System Operators.