pc
nid 93471
Jun 25, 2026
pthandapani@vixio.com
India
Reserve Bank of India
horizon scanning
143% of draft length
draft in Generated
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1315 chars(no TITLE: in output)
I appreciate your detailed instructions, but I must note that the source material provided contains only navigation elements and metadata from the Reserve Bank of India (RBI) website—specifically a notifications page listing archive dates and a reference to "Reserve Bank of India (Payments Banks - Responsible Business Conduct) Second Amendment Directions, 2026."
The actual content of the Second Amendment Directions, 2026 is not included in the material provided. Without access to the substantive text of this directive—including its specific amendments, effective dates, applicability, and regulatory requirements—I cannot generate a factually accurate Horizon Scanning update that meets the standards outlined in your guidelines.
To produce a compliant update, I would require:
- The full text or substantive summary of the Second Amendment Directions, 2026
- Details of what is being amended from the original or first amendment directions
- Effective dates and implementation timelines
- Specific requirements or changes affecting payments banks
- Any transitional provisions or compliance deadlines
**Please provide the complete source document or content, and I will immediately generate a comprehensive Horizon Scanning update following all specified formatting, style, and structural requirements.**
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1881 charsReserve Bank of India Amends Responsible Business Conduct Directions for Payment Banks
The Reserve Bank of India (RBI) has issued the Reserve Bank of India (Payments Banks - Responsible Business Conduct) Second Amendment Directions, 2026.
The amended directions contain:
New definitions for key terms including "Card Not Present transaction", "Card Present transaction", "Electronic banking transaction (EBT)", "Fraudulent EBT", "Unauthorised EBT", "Third-party breach", and the specific actions constituting negligence by a customer or a payments bank (PB).
Regulations prescribing customer protection policies for fraudulent EBTs, stipulating that a customer has zero liability and is entitled to a transaction reversal if the fraud is due to the PB's negligence or if a third-party breach is reported within five calendar days.
Specific rules mandating PBs to send instant SMS alerts for all EBTs exceeding INR500 (US$5.30), provide 24x7 reporting channels, and ensure complaints are processed and liability is established within 45 days for domestic frauds and 60 days for cross-border frauds.
Provisions outlining a compensation mechanism for small value fraudulent EBTs up to INR50,000 caused by customer negligence, entitling a bona fide victim to 85 percent of the net loss or INR25,000 (US$264) (whichever is less) once in their lifetime, provided it is reported within five days.
Administrative measures detailing the cost-sharing ratio for this compensation—such as the RBI bearing 65 percent, the customer's bank 10 percent, and the beneficiary bank 10 percent for losses under INR29,412 (US$311), and establishing a quarterly reimbursement claim process with the RBI.
Directives requiring PBs to establish a monitoring mechanism for periodic reporting of fraudulent EBT complaints to the Board or its designated committee, and prohibiting the levying of charges on customers for mandatory SMS alerts.
The amendments take effect on January 1, 2027.