The Reserve Bank of India (RBI) has released a (draft rules), from regulated entities, stakeholders and the public.
The draft rules aim to comprehensively review the guidelines on PPI, enhance security and will replace the , which will be updated periodically.
The draft rules affect the unified payments interface (UPI), a popular method of electronic and cashless transactions in India, where users can easily and directly transfer money from their account to the recipient’s. The UPI method gained prominence during 2016 demonetisation and during the pandemic.
One of the changes proposed in the draft rules is the revised upper limit for person-to-person transfers capped at INR25,000 (USD265).
The regulatory filings of PPI issuers will now include a net-worth certificate, audited annual reports and statutory auditor certificates on net worth. Reports on information systems and cybersecurity external audits, including information of any actions taken, also must be submitted along with information on co-branding arrangements, if any.
Comments can be submitted online through the RBI’s website till 22 May 2026.
