The Reserve Bank of India (RBI) on July 30, 2026, issued the Reserve Bank of India (Payments Banks – Governance) Third Amendment Directions, 2026, to amend the Reserve Bank of India (Payments Banks – Governance) Directions, 2025.
The following has been stated: -
•The Reserve Bank of India has issued the Reserve Bank of India (Payments Banks – Governance) Third Amendment Directions, 2026 to align governance and remuneration provisions with the revised Basel Pillar 3 disclosure framework.
•The amendment revises norms relating to share-linked instruments, requiring them to form part of variable pay, be fair-valued using the Black-Scholes model, and be disclosed in accordance with the prescribed RBI disclosure requirements.
•It also updates the annual remuneration disclosure requirements for Whole-Time Directors (WTDs), MD & CEO, and Material Risk Takers (MRTs) in the Annual Financial Statements.
•These amendments will come into effect from April 01, 2027.
The detailed notification is given in the document below.
[Notification No.: RBI/DOR/2026-27/208 DOR.ACC.REC.No.186/29.67.001/2026-27]
