Payment rules: RBI issues final guidelines for aggregators, sets capital norms and cross-border limits

The Reserve Bank of India (RBI) has introduced final guidelines to regulate payment aggregators, effective immediately. These guidelines classify aggregators into three categories and impose stringent capital requirements for non-bank entities, including a minimum net worth of Rs 25 crore by the third financial year. The framework also covers escrow accounts, fund management, and cross-border limits.