If we were to highlight issues in the payments industry, Aadhaar-enabled payment systems (“AePS”) would certainly feature on that list. While Aadhaar has revolutionized identity verification and enabled financial inclusion en-masse, it has also led to several forms of financial
On 22nd August 2024, RBI updated its E-Mandate Framework through notification RBI/2024-25/64 CO.DPSS.POLC.No.S528/02-14-003/2024-25 to include the auto-replenishment of FASTag and National Common Mobility Card (“NCMC”) balances under the e-mandate framework. This update is significant because: (a) Auto-replenishment will now be triggered automatically when
Self regulated organizations for payment system operators 10 nov2020 from Novojuris Introduction With the massive growth witnessed in India, in the digital payment ecosystem, there has arisen a need for having a framework for regulation for digital payments.
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