The Reserve Bank of India (RBI) on November 11, 2026, issued an update to the Master Direction on Regulation of Payment Aggregator (PA).
The update replaces the earlier reference to the RBI Master Direction on KYC, 2016, with the RBI (Commercial Banks – Know Your Customer) Directions, 2025; updates the net-worth computation reference to the RBI Master Directions on Authorisation to Operate a Payment System dated June 15, 2026; replaces the earlier cybersecurity reference with the Master Directions on Cyber Resilience and Digital Payment Security Controls for Non-bank Payment System Operators dated November 5, 2026; and updates the outsourcing framework references under Paragraph 10(h) to include the RBI (Managing Risks in Outsourcing) Directions, 2025. Accordingly, the amendments primarily align the Payment Aggregator regulatory framework with the newer RBI directions and guidelines.
The detailed notification is attached below.
[Notification No. - RBI/DPSS/2025-26/141 CO.DPSS.POLC.No.S-633/02-14-008/2025-26]
