RBI amends Payment and Settlement Systems Regulations, 2008



Quick Summary
The Reserve Bank of India (RBI) has amended the Payment and Settlement Systems Regulations, 2008. These changes aim to lessen the compliance requirements for regulated entities by streamlining certain prescribed returns. Specifically, several monthly, quarterly, and annual returns have been discontinued, and redundant operational guidelines have been removed.

In exercise of the powers conferred by sub-section (1) read with clauses (b) to (f) of sub-section (2) of Section 38 of the Payment and Settlement Systems Act (PSS Act), 2007 (51 of 2007), the Reserve Bank of India has carried out amendments to regulation 5, regulation 6 (2) and the 'schedule' to regulation 5 of the Payment and Settlement Systems Regulations, 2008 (PSS Regulations). The amendments are carried out with the objective of reducing the compliance burden on Regulated Entities (REs) by rationalising certain returns prescribed in the PSS Regulations.

RBI Amends Payment Systems Rules to Cut Compliance Burden

With this amendment, certain monthly / quarterly / annual returns prescribed in sub-regulations (a) to (g) of regulation 6 (2) have been discontinued and redundant operational guidelines listed in the 'schedule' to regulation 5 have been removed. The updated document, 'Payment and Settlement Systems Regulations, 2008, as amended up to February 10, 2022' can be accessed here.

(Yogesh Dayal)     
Chief General Manager

FAQ :

The RBI has amended the Payment and Settlement Systems Regulations, 2008.

The main objective is to reduce the compliance burden on Regulated Entities (REs) by rationalising certain returns.

Amendments have been made to regulation 5, regulation 6 (2), and the 'schedule' to regulation 5 of the PSS Regulations, 2008.

Certain monthly, quarterly, and annual returns prescribed in sub-regulations (a) to (g) of regulation 6 (2) have been discontinued.

Redundant operational guidelines listed in the 'schedule' to regulation 5 have been removed.




News posted by

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments :


More »

Popular News





CCI Pro



Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details