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31-Dec-2025 |
IFF |
Advisory to Corporate BCs, Payment Aggregators and Banks dealing with Payout APIs and PAs
The India Fintech Foundation (IFF) advisory from December 2025 mandates corporate BCs, payment aggregators, and banks to immediately cease pass-through third-party remittance activities via Payout APIs on current/OD accounts, aligning with RBI's 2025 directions for compliance, consumer protection, and stability. Non-compliance risks account restrictions and IFF disciplinary actions. |
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21-Nov-2025 |
RBI |
Interlinking of Unified Payments Interface (UPI) with the TARGET Instant Payment Settlement (TIPS) of the Eurosystem
RBI and NPCI International will link India’s UPI with the Eurozone’s TIPS instant payment system to enable cheaper, faster, transparent cross-border remittances between India and the Euro Area. |
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11-Nov-2025 |
RBI |
Recognition of Self-Regulatory Organisation for Payment System Operators
RBI has recognised Self-Regulated PSO Association (SRPA) as the Self-Regulatory Organisation for Payment System Operators under its SRO frameworks issued in 2020 and 2024. |
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23-Oct-2025 |
RBI |
RBI publishes Payment System Report, June 2025
The RBI’s June 2025 Payment System Report highlights India’s exponential digital payments growth, UPI dominance, regulatory changes, rising transaction volumes and values, and continued infrastructure expansion. |
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10-Oct-2025 |
RBI |
Consolidation of Regulations – Drafts for comments
The Reserve Bank of India consolidated 9000 circulars into 238 Master Directions for 11 regulated entities, aiming to reduce compliance costs and improve clarity. |
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08-Oct-2025 |
NPCI |
Introduction of IoT devices & software on UPI Circle
The addendum outlines guidelines for IoT devices and software integrating with UPI, specifying technical requirements and compliance for secure payments in FY 2025-26. |
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08-Oct-2025 |
NPCI |
Enhancements in UPI Single Block Multiple Debits (UPI Reserve Pay)
NPCI’s new circular enhances UPI Reserve Pay, allowing single block multiple debits from all UPI-permitted sources, with Rs.10,000, 90-day limits and detailed user notifications |
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08-Oct-2025 |
RBI |
RBI’s Verified WhatsApp Channel for Public Awareness (Addition of 2nd account)
RBI has expanded its ‘RBI Kehta Hai’ initiative by adding a second verified WhatsApp channel for public financial awareness, promoting official updates through blue-tick accounts. |
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07-Oct-2025 |
NPCI |
Enhancement of UPI Autopay
NPCI circular enhances UPI Autopay, allowing users to view and port mandates between apps and merchants to switch PSPs, with a compliance deadline of December 31, 2025. |
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07-Oct-2025 |
NPCI |
Enabling Cash Withdrawal through MicroATM using UPI at Business Correspondent (BC) touch points
NPCI enables cash withdrawal via UPI at Business Correspondent micro-ATMs by scanning dynamic QR codes, with transaction limits, mandatory two-factor authentication, and dispute resolution. |
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07-Oct-2025 |
NPCI |
Introduction of Additional Authentication methods in UPI
The document introduces new additional authentication methods for UPI in FY 2025-26, enhancing security and compliance for digital payments as per NPCI guidelines. |
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07-Oct-2025 |
RBI |
RBI invites public comments on the draft Reserve Bank – Ombudsman Scheme, 2025
RBI released the draft Reserve Bank – Ombudsman Scheme, 2025, inviting public and stakeholder comments till October 28, 2025, based on global best practices and feedback. |
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01-Oct-2025 |
RBI |
RBI Issues Draft Directions/Circulars
RBI issues multiple draft directions and circulars across various functional areas of regulatory oversight for public comments. |
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26-Sep-2025 |
RBI |
Reserve Bank of India (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025
Reserve Bank of India standardizes procedures for settling deceased customers' claims, streamlines documentation, and sets 15-day timelines, aiming to minimize hardships and delays. |
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25-Sep-2025 |
RBI |
Reserve Bank of India (Authentication mechanisms for digital payment transactions) Directions, 2025
RBI mandates two-factor authentication for all digital payment transactions, promotes open access, risk-based checks, and enhances customer protection. Compliance by April 2026. Exemptions listed. |
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19-Sep-2025 |
SEBI |
Framework on Social Stock Exchange
SEBI's circular updates the Social Stock Exchange framework, mandates annual and impact disclosures by NPOs and social enterprises, and enforces compliance via amended regulations. |
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15-Sep-2025 |
RBI |
Master Direction on Regulation of Payment Aggregator (PA)
RBI’s 2025 Master Direction mandates strict authorization, net worth, KYC, risk management, escrow, and tech standards for all Payment Aggregators, enhancing security, transparency, and oversight in India’s payments ecosystem. |
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12-Sep-2025 |
NPCI |
Segregation of UPI settlement cycles for Auth and disputes transactions
NPCI splits UPI settlements: cycles 1–10 process only AUTH payments; cycles 11–12 handle refunds/dispute transactions separately, enabling faster settlements and clear dispute processing timelines. |
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12-Sep-2025 |
SEBI |
SEBI Board Meeting
The SEBI Board meeting approved key regulatory changes, including easing IPO norms, boosting investor inclusivity, improving AIF and mutual fund frameworks, and enhancing local SEBI presence. |
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10-Sep-2025 |
NPCI |
Implementation of NRP & revision in PRD process for RuPay
NPCI revised RuPay dispute and arbitration process for FY25-26, introducing new NRP/PRD lifecycles, fees, faster TAT, and appeal to RBI for unresolved cases. |
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10-Sep-2025 |
SEBI |
Revised regulatory framework for Angel Funds under AIF Regulations
SEBI revised regulations for Angel Funds require exclusive fundraising from Accredited Investors, operational clarity, new investment allocation norms, mandatory audits, and stricter compliance, effective immediately from September 2025. |
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10-Sep-2025 |
SEBI |
Ease of regulatory compliances for FPIs investing only in Government Securities
SEBI eases regulatory compliance for FPIs investing only in government securities, exempting several requirements, enabling easier transition between regular FPI and GS-FPI status. |
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09-Sep-2025 |
SEBI |
Framework for AIFs to make co-investment within the AIF structure under SEBI (Alternative Investment Funds) Regulations, 2012
SEBI allows Category I and II AIFs to offer co-investment to accredited investors via new CIV schemes, setting operational, governance, and investment restriction guidelines. |
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20-Aug-2025 |
RBI |
Counterparty Credit Risk: Add-on factors for computation of Potential Future Exposure - Revised Instructions – Draft
The RBI has issued draft amended guidelines for banks on Counterparty Credit Risk (CCR), revising add-on factors for Potential Future Exposure (PFE) to align with Basel norms. Comments invited. |
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14-Aug-2025 |
RBI |
Reserve Bank of India (Know Your Customer (KYC)) (2nd Amendment) Directions, 2025
The 2nd Amendment to RBI’s KYC Directions, 2025, adds provisions for disabled persons, FAQs, Aadhaar Face Authentication, higher-value transactions, and specific record-keeping for financial institutions. Effective immediately. |
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14-Aug-2025 |
RBI |
Draft Foreign Exchange Management (Guarantees) Regulations, 2025
The RBI’s 2025 draft regulations under FEMA restrict residents from providing guarantees in certain forex transactions, set conditions for exemptions, specify reporting formats, and introduce late submission fees for delays. |
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13-Aug-2025 |
RBI |
FREE-AI Committee Report - Framework for Responsible and Ethical Enablement of Artificial Intelligence
The RBI’s FREE-AI report prescribes seven guiding principles (“sutras”) and 26 recommendations for responsible, ethical, and innovative AI adoption and risk management in India’s financial sector. |
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13-Aug-2025 |
RBI |
Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System
RBI has introduced continuous clearing and settlement on realisation in the Cheque Truncation System, transitioning from batch processing in two phases, enhancing real-time processing efficiency for all participating banks. |
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12-Aug-2025 |
RBI |
Investment in Government Securities by Persons Resident Outside India through Special Rupee Vostro account
Persons resident outside India with Special Rupee Vostro Accounts may now invest surplus Rupees in Indian Government securities, including Treasury Bills, as per updated RBI Master Directions effective immediately. |
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12-Aug-2025 |
SEBI |
Use of liquid mutual funds and overnight mutual funds for compliance with deposit requirement by Investment Advisers and Research Analysts
SEBI allows Investment Advisers and Research Analysts to meet deposit requirements using liquid or overnight mutual funds, in addition to bank deposits, effective August 2025, with compliance due by September 30, 2025. |
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08-Aug-2025 |
SEBI |
Transaction charges paid to Mutual Fund Distributors
SEBI has removed transaction charges or commissions paid to mutual fund distributors, deleting relevant provisions from the Master Circular, with immediate effect, after public and industry consultations in 2023 and 2025. |
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06-Aug-2025 |
RBI |
Reserve Bank of India (Co-Lending Arrangements) Directions, 2025
RBI’s 2025 Co-Lending Directions create a unified framework for banks/AIFIs/NBFCs: ex-ante agreements, minimum 10% retention each, blended pricing, clear borrower interface, reporting/disclosures, borrower-level asset classification, optional DLG up to 5%, effective upon final issuance. |
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06-Aug-2025 |
RBI |
Reserve Bank of India (Non-Fund Based Credit Facilities) Directions, 2025
The RBI’s 2025 Directions unify guidelines for non-fund based credit facilities like guarantees and letters of credit, set eligibility, exposure limits, disclosure norms, and introduce rules on Partial Credit Enhancement, effective April 2026. |
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05-Aug-2025 |
RBI |
International Trade Settlement in Indian Rupees (INR)
The Reserve Bank of India now allows banks to open Special Rupee Vostro Accounts for overseas correspondent banks without prior RBI approval, effective immediately, under FEMA, 1999 regulations. |
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29-Jul-2025 |
RBI |
Reserve Bank of India (Investment in AIF) Directions, 2025
Reserve Bank of India’s 2025 Directions restrict regulated entities’ investments in Alternative Investment Funds (AIFs): max 10% per entity, 20% collectively, provisioning for related exposures, effective January 1, 2026. |
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23-Jul-2025 |
IRDAI |
Draft IRDAI (Internal Insurance Ombudsman) Guidelines, 2025
The 2025 Draft IRDAI Internal Insurance Ombudsman Guidelines aim to enhance policyholder trust by mandating insurers appoint independent ombudsmen to resolve complaints efficiently, transparently, and fairly within defined timelines. |
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22-Jul-2025 |
RBI |
Financial Inclusion Index for March 2025
The value of FIIndex for March 2025 stands at 67.0 vis-à-vis 64.2 in March 2024 |
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21-Jul-2025 |
RBI |
Digital Banking Channels Authorisation Directions, 2025 - Draft
RBI mandates prior approval, strong IT controls, customer consent, and risk management for banks offering digital banking channel services |
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10-Jul-2025 |
NPCI |
Addendum to operating circular for pre-sanctioned credit lines at Banks through UPI
NPCI's Circular UPI OC No. 171‑A (FY 2025–26), issued July 10, 2025, expands on OC‑171 by setting formal guidelines for using pre‑sanctioned credit lines via UPI. It requires banks to clearly define terms, ensure credit is used only for approved purposes, and approve or decline UPI‑initiated transactions accordingly |
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08-Jul-2025 |
NPCI |
Addendum: Introduction of UPI Circle - Delegated Payments for secondary users
NPCI’s Circular OC 201-A (July 2025) adds stricter norms for full delegation in UPI Circle. Primary users must share ID details of secondary users (family or staff) and give explicit consent. Banks must verify identity through name, mobile, and KYC. Effective August 31, 2025. |
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04-Jul-2025 |
UIDAI |
UIDAI records milestone in June 2025
UIDAI recorded a landmark 229.33 crore Aadhaar authentication transactions in June 2025, marking a 7.8% year‑on‑year increase and bringing the total since inception to over 15,452 crore. AI‑based face authentication hit a monthly peak of 15.87 crore, while e‑KYC transactions crossed 39 crore, reflecting strong digital adoption across services |
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03-Jul-2025 |
NPCI |
Adoption of standardized, validated and exclusive UPI IDs for payment collection by SEBI registered intermidiaries from investors through UPI
NPCI’s UPI OC No. 217 (FY 2025–26) mandates SEBI‑registered intermediaries to adopt standardized, validated, and exclusive UPI IDs for payment collection from investors. This enhances transaction authenticity, prevents misuse, and ensures secure, seamless UPI flows for regulated investment platforms |
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02-Jul-2025 |
RBI |
Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025
RBI’s July 2, 2025 Pre‑payment Charges on Loans Directions, 2025 prohibit regulated lenders from levying early repayment fees on floating-rate loans to individuals and specified business loans to MSEs (up to ₹50 lakh for smaller banks). Applicable from January 1, 2026, these ensure transparency, upfront disclosures, and borrower protection |
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30-Jun-2025 |
RBI |
Financial Stability report
The RBI’s June 2025 Financial Stability Report assesses risks to India’s financial system and affirms the resilience of banks, NBFCs, and insurers. Despite global uncertainties, the report highlights strong capital buffers and stable macroeconomic conditions supporting financial stability. |
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27-Jun-2025 |
RBI |
AePS – Due Diligence of AePS Touchpoint Operators
RBI's June 2025 directive mandates acquiring banks to conduct full KYC of AePS Touchpoint Operators, re-KYC inactive operators after 3 months, and monitor transactions using risk-based controls. Effective January 1, 2026, the move aims to curb fraud and strengthen identity verification at AePS touchpoints. |
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26-Jun-2025 |
NPCI |
Initiation of self attetation of members/participants for FY 2025-25
NPCI’s Product Compliance Circular 001 (FY 2025–26) mandates all members and participants complete self-attestation of compliance via the PCOMP portal for Q1. The deadline is March 31, 2026, with penalties for non-compliance, reinforcing adherence to NPCI’s guidelines. |
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24-Jun-2025 |
Dept of Telecom |
Telecom Cybersecurity Rules 2025: Draft Amendments for Public Feedback
The Ministry of Communications has released the draft Telecom Cybersecurity (Amendment) Rules, 2025, inviting public comments. These proposed changes aim to strengthen digital trust, introduce mobile number validation mechanisms, and enhance the security of telecom identifiers. Stakeholders are encouraged to review and share feedback within 30 days of publication. |
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20-Jun-2025 |
NPCI |
Modification in UPI chargeback rules and procedures
NPCI's Circular updates UPI chargeback rules with clearer timelines, revised reason codes, and improved dispute resolution processes. These changes aim to streamline chargebacks and are mandatory for all UPI participants. |
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16-Jun-2025 |
RBI |
Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2025
RBI\'s 2025 ETP Directions mandate authorisation, risk controls, data security, transparency, and compliance for electronic trading platforms. |
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16-Jun-2025 |
TRAI & RBI |
Digital Consent Management Pilot
TRAI, with RBI and banks, launches a pilot to digitize consumer consent, curbing spam and financial fraud via telecom. |
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12-Jun-2025 |
RBI |
Master Direction Update - Know Your Customer (KYC) Direction, 2016
The RBI’s updated Master Direction on KYC (June 12, 2025) provides comprehensive anti‑money laundering guidelines for reporting entities. It details customer identification, ongoing due diligence, video-based KYC, exception handling, and beneficial‑owner norms. It emphasizes encrypted data sharing, audit requirements, and periodic KYC updates based on risk profile |
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12-Jun-2025 |
RBI |
Updation/ Periodic Updation of KYC – Revised Instructions
RBI’s updated Periodic KYC Updation Framework (June 12, 2025) requires regulated entities to follow a risk-based schedule—2 years for high-risk, 8 for medium, 10 for low-risk customers. BCs can assist, low-risk deadlines extend to June 30, 2026, with three advance notices. |
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06-Jun-2025 |
NPCI |
Upgradation of NACH system
NPCI’s NACH OC 003 (FY 2025–26) upgrades NACH to version 3.0, debuting in July 2025. Key improvements include enhanced GUI, real‑time monitoring, stronger data security, optimized file handling, and self‑service features—while settlement formats remain unchanged |
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26-May-2025 |
NPCI |
Facility for cancellation of mandates to be provided to customers - Extension of time
NPCI’s Circular NACH OC 002 FY 25–26 extends the deadline for banks and corporates to implement online mandate cancellation (CASR) facilities. Originally due by February 28, 2025, the new compliance deadline is July 31, 2025. Non-compliant entities risk deactivation from ONMAGS starting August 1, 2025 |
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26-May-2025 |
NPCI |
Revision on Handling of Deemed Approval (Deemed Acceptance or DA) status in UPI for P2M transactionwhere Acquiring PSP and Merchant Banks
NPCI’s UPI OC No. 39‑A (May 26, 2025) clarifies that for Person‑to‑Merchant transactions where the acquiring PSP and merchant bank are the same, "Deemed Acceptance" (DA) will be treated as transaction success online—effective June 30, 2025. Back‑office processes and chargeback rules remain unchanged |
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21-May-2025 |
Dept of Telecom |
DoT Introduces "Financial Fraud Risk Indicator (FRI)" to strengthen Cyber Fraud Prevention
The Department of Telecommunications (DoT) has introduced the Financial Fraud Risk Indicator (FRI) as part of its Digital Intelligence Platform. FRI classifies mobile numbers by fraud risk—Medium, High, or Very High—using data from cybercrime portals, telecom logs, and banks. Shared instantly with banks and UPI providers, FRI enables proactive transaction checks and fraud prevention |
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21-May-2025 |
NPCI |
Guidelines on UPI API
NPCI’s UPI OC No. 215‑A (May 2025) issues guidelines to cap and monitor UPI API use, enforcing per‑user limits on balance inquiries (50/day), linked‑account fetches (25/day), and autopay executions outside peak hours. PSPs must audit systems, submit compliance by July 31, and face penalties for violations |
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19-May-2025 |
UIDAI |
UIDAI shares non-personal Aadhaar Dashboard Data to promote transparency and research
UIDAI has launched a large-scale initiative to deactivate Aadhaar numbers of deceased individuals, collaborating with the Registrar General of India to access 1.55 crore death records. After rigorous validation, approximately 1.17 crore IDs have been deactivated. A new "Report Death of Family Member" service on myAadhaar (active in 24 states/UTs since June 9, 2025) allows families to report deaths online. These measures strengthen database accuracy, prevent identity misuse, and reinforce trust in India’s Aadhaar ecosystem |
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08-May-2025 |
RBI |
RBI Digital Lending Directions
The RBI’s Digital Lending Directions, 2025 consolidate previous guidelines and introduce new measures for regulated entities (banks, UCBs, NBFCs, etc.) partnering with lending service providers. Key provisions include cooling-off options, borrower grievance redressal, transparent data sharing limits, and mandatory directory reporting via RBI’s CIMS portal—effective immediately, with select provisions phasing in by June and November 2025 |
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07-May-2025 |
RBI |
RBI's Framework for Formulation of Regulations
The RBI’s Framework for Formulation of Regulations (May 7, 2025) introduces a structured, transparent, and consultative process for drafting and amending regulations. It mandates public consultation, impact analysis, and periodic reviews, while allowing exemptions for urgent, confidential, or internal matters. This ensures clarity, accountability, and stakeholder engagement in regulatory policymaking. |
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30-Apr-2025 |
Supreme Court |
Alternate accessibility method for Digital KYC for persons with disabilities
The Supreme Court of India, in a landmark April 30, 2025 judgment, directed the government and regulators (RBI, SEBI, TRAI, etc.) to ensure digital KYC processes are accessible to people with disabilities—especially those visually impaired or with facial disfigurements. Measures include alternative “liveness” checks beyond blinking, thumb-impression acceptance, screen-reader compatibility, periodic audits, staff sensitisaton, and grievance redressal mechanisms |
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01-Jan-2025 |
IRDAI |
IRDAI Regulatory Sandbox Regulations 2025
Expanded regulatory sandbox framework for insurance innovation. Includes inter-regulatory sandbox proposals across multiple financial sectors. Promotes innovation, efficiency and ease of doing business in insurance sector. |
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28-Aug-2024 |
NPCI Bharat BillPay Limited (NBBL) |
Bharat BillPay (BBPS) for Business
Interoperable platform for B2B invoicing, payments, collections and settlements. Features include business onboarding, PO creation, invoice management, automated payment reminders, guaranteed settlements and dispute resolution. |
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13-Aug-2024 |
NPCI |
UPI Circle (Delegated Payments)
Feature allowing primary UPI users to add trusted secondary users with partial or full transactional authority. Secondary users can make payments through primary user approval. Launched at Global Fintech Festival 2024. |
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29-Dec-2023 |
RBI |
Payment Infrastructure Development Fund (PIDF)
The Payments Infrastructure Development Fund (PIDF) Scheme, extended to December 31, 2025, aims to expand payment acceptance in Tier-3 to Tier-6 centers and special regions. Enhancements include increased subsidies, broader device coverage, focus on merchant terminalization, and mandatory contributions from banks and card networks for infrastructure growth. |
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12-Sep-2022 |
IFSCA |
IFSCA FinTech Incentive Scheme 2022
Financial support scheme providing startup grants, sandbox grants, PoC grants, green FinTech grants, listing grants and accelerator grants. Promotes establishment of world-class FinTech hub at GIFT IFSC. |
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27-Apr-2022 |
IFSCA |
IFSCA FinTech Entity Framework & Regulatory Sandbox
Framework for establishing world-class FinTech hub at GIFT IFSC. Includes regulatory sandbox, innovation sandbox, and inter-operable regulatory sandbox. Direct authorization pathway for FinTech entities. |
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02-Aug-2021 |
NPCI |
e-RUPI Digital Voucher Platform
Prepaid voucher-based digital payment solution for targeted delivery of welfare services. Contactless, cashless and ensures benefits reach intended recipients. Shared via SMS or QR code for specific purposes. |
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14-Jun-2021 |
SEBI |
SEBI Regulatory Sandbox Framework
Framework for testing innovative FinTech solutions in capital markets. Maximum 12-month testing period with specific regulatory relaxations. Enables live testing with real customers under controlled environment for securities market innovations. |
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18-Apr-2019 |
RBI |
RBI Regulatory Sandbox
Controlled testing environment for innovative financial products and services. Three cohorts launched: Retail Payments, Cross Border Payments, and MSME Lending. Allows live testing with limited customers under regulatory supervision |
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16-Oct-2017 |
NPCI |
BBPS
BBPS (Bharat Bill Payment System) is a centralized platform for interoperable, secure bill payments across India, managed by NPCI. |
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02-Sep-2016 |
RBI |
Account Aggregator Framework
Consent-based financial data sharing system. 112.34 million users linked accounts, 2.2+ billion accounts enabled. 112 institutions live as FIP and FIU. Enables secure sharing of financial data across institutions. |
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11-Apr-2016 |
NPCI |
Unified Payments Interface (UPI)
Real-time payment system enabling inter-bank transactions through mobile phones. Revolutionized digital payments with 13,116 crore transactions in FY 2023-24. Supports peer-to-peer and merchant payments. |
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