The Reserve Bank of India (RBI), through its Master Circular RBI/2015-16/59 DBR No. Leg. BC. 21/09.07.006/2015-16 dated July 1, 2015, on Customer Service in Banks, provided comprehensive guidelines to ensure that banks offer accessible and equitable banking services to individuals with disabilities (“Master Circular on Customer Service”). On February 2, 2024, the Ministry of Finance, Government of India, issued the Accessibility Standards and Guidelines for the Banking Sector, which establishes standards for creating inclusive physical environments for persons with disabilities (“Accessibility Guidelines”).
Further to these initiatives, on October 11, 2024, the RBI issued a directive aimed at improving the accessibility of banking services for persons with disabilities (“PwDs”), building on the principles outlined in the Master Circular and the Accessibility Guidelines.
As part of these efforts, Payment System Participants (PSPs), including banks and authorized non-bank payment providers, are instructed to assess and modify their payment systems (e.g., Point-of-Sale devices) to ensure that they are fully accessible and usable by PwDs. These modifications should align with the Accessibility Guidelines, while maintaining the security and integrity of the systems.
PSPs are required to submit a detailed report to the RBI by November 11, 2024, outlining the systems or devices that need modification and providing a time-bound action plan for the necessary changes. The report should be sent to the Department of Payment and Settlement Systems, Reserve Bank of India, at dpssfeedback@rbi.org.in. Additionally, PSPs must designate a Nodal Officer and provide their contact details for further inquiries. Additionally, they should also provide contact information of their Nodal Officer for further inquiries.
In conclusion, the recent directive from the RBI marks a significant advancement in making digital payment systems accessible to persons with disabilities. By mandating that Payment System Participants assess, modify, and report on their compliance with the Accessibility Guidelines, the RBI reinforces its commitment to inclusivity within the banking sector. This regulatory update is a vital step in fostering a more equitable digital landscape, ensuring that individuals with disabilities can access essential financial services with ease and dignity. As PSPs work to implement these changes, the collaborative focus on accessibility, security, and system integrity will pave the way for a more inclusive financial ecosystem in India.
