RBI’s New Guidelines for Accessible Digital Payments for Persons with Disabilities
The Reserve Bank of India (RBI) has introduced new guidelines to enhance the accessibility of digital payment systems for persons with disabilities (PwDs). As digital payments become more popular, the RBI urges payment system participants (PSPs), including banks and authorized non-bank payment providers, to review and modify their systems to be more user-friendly for PwDs.
Key Requirements
The guidelines require PSPs to ensure that payment infrastructure, such as Point-of-Sale (POS) machines, is accessible to individuals with various disabilities. These modifications must adhere to the Accessibility Standards set by the Ministry of Finance, without compromising security.
Action Plan and Reporting
PSPs must submit a detailed report within one month, outlining the systems needing modification and a time-bound action plan for implementing changes. This report should be sent to the Department of Payment and Settlement Systems, RBI, at dpssfeedback@rbi.org.in. A Nodal Officer should be identified for further queries.
Alignment with Existing Standards
This directive supports the RBI’s Master Circular on Customer Service in Banks, which requires inclusive banking services for PwDs, and aligns with the “Accessibility Standards and Guidelines for Banking Sector” issued by the Ministry of Finance.
Doubts Revealed
RBI -: RBI stands for Reserve Bank of India. It is the central bank of India, which means it manages the country’s money and banking system.
Digital Payments -: Digital payments are ways to pay for things using electronic methods, like using a phone app or a card, instead of cash.
Persons with Disabilities (PwDs) -: Persons with Disabilities (PwDs) are people who have physical or mental conditions that make it harder for them to do certain activities or interact with the world around them.
POS machines -: POS machines are Point of Sale machines. They are devices used in shops to take payments from customers using cards.
Ministry of Finance -: The Ministry of Finance is a part of the Indian government that deals with the country’s money, including taxes and spending.
PSPs -: PSPs stand for Payment System Participants. These are companies or banks that help people make digital payments.
Nodal Officer -: A Nodal Officer is a person appointed to handle specific tasks or queries, ensuring that things are done properly and efficiently.
