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ARTICLE · 08 OCTOBER 2025

Sagus Speaks September 2025 | Part II

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The Reserve Bank of India ("RBI") through notification no. RBI/DPSS/2025-26/141 dated 15.09.2025 notified the RBI (Regulation of Payment Aggregators) Directions...

IndiaGovernment, Public Sector
Sagus Legal LLP
Sagus Legal LLP

This Newsletter covers key Regulatory & Policy Updates, Government Notifications and Judicial Pronouncements.

REGULATORY AND POLICY UPDATES

RBI notifies RBI (Regulation of Payment Aggregators) Directions, 2025

The Reserve Bank of India ("RBI") through notification no. RBI/DPSS/2025-26/141 dated 15.09.2025 notified the RBI (Regulation of Payment Aggregators) Directions, 2025 ("PA Directions")1 for regulation of entities engaged in various categories of payment aggregation. These PA Directions have come into effect from 15.09.2025, unless indicated otherwise for specific provisions.

The key terms of the PA Directions are as follows:

  1. These PA Directions apply to all bank and non-bank entities undertaking the business of Payment Aggregator ("PA"). These PA Directions also apply to all Authorised Dealer ("AD") banks and Scheduled Commercial Banks ("SCB") which engage with entities undertaking PA business, to the extent specified.

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