Digital Banking and RBI Guidelines#
Digital Payment Systems in India#
| System | Description | Limit |
|---|---|---|
| UPI | Unified Payments Interface | ₹2 lakh per transaction |
| IMPS | Immediate Payment Service | ₹5 lakh |
| NEFT | National Electronic Fund Transfer | No limit |
| RTGS | Real Time Gross Settlement | ₹2 lakh minimum |
RBI Guidelines for Digital Banking#
- Data localization requirements
- Security standards (2FA, tokenization)
- Customer consent for data sharing
- Liability framework for unauthorized transactions
UPI Guidelines#
- Maximum transaction limit: ₹2 lakh
- 24x7 availability
- Biometric authentication
- Virtual payment address
Digital Lending Guidelines#
RBI guidelines for digital lending platforms:
- Loan disbursement to borrower account only
- Multiple lending disclosure
- Data privacy protection
- Fair practices code
RBI Regulatory Sandbox#
- Testing innovative financial technology
- Controlled environment
- Limited customers
- Time-bound trials
Payment Security#
- Tokenization
- Encryption
- Two-factor authentication
- Zero liability for unauthorized transactions