Regulatory Alerts2026-06-15
Added · Updated
Reserve Bank of India (Payments Banks – Undertaking of Financial Services) Amendment Directions, 2026
These Directions amend the Reserve Bank of India (Payments Banks – Undertaking of Financial Services) Directions, 2025, effective January 01, 2027. They substitute definitions for 'Agency Business' and 'Referral Services' and introduce terms for 'Regulated financial products and services', 'Third-party Product and Service', and 'Third-party Product and Service Provider'. The amendments omit existing paragraphs 7, 8, 13, 14, and 15, while substituting paragraphs 4, 12, and 16 to restrict agency business to regulated products sold on a fee basis without risk participation, and to limit referral services to non-integrated redirections with explicit disclaimers.