As an extension of it, the RBI has decided to institutionalise an internal ombudsman scheme at large non-bank prepaid payment instrument (PPI) issuers. These are entities that have more than 10 million pre-paid payment instruments outstanding. The instructions for this move will be put in place by the middle of this month.
The internal ombudsman is intended to facilitate a swift and cost-effective complaint redressal mechanism within the entity and provide an additional tier for grievance redressal, the RBI said.The RBI will disseminate more granular information on payment data covering the payment systems. This is in line with the recommendations of the Committee on Deepening of Digital Payments headed by Nandan Nilekani. The RBI publishes data on its website and in bulletins the various payment and settlement system indicators.
With rapid growth in the issuance of cards in the country, there is a need to ensure growth of acceptance infrastructure in Tier III to Tier VI centres. An ‘Acceptance Development Fund’ (ADF) will be created in consultation with the stakeholders to increase digitisation in these areas. The framework will be operationalised by December 2019, the RBI said. For expanding and deepening the digital payments ecosystem, the RBI said state/union tettitory level bankers committees (SLBCs/ UTLBCs) will identify one district on a pilot basis in consultation with banks and stakeholders. The identified district may be allocated to a bank with significant footprint. This will enable the district to become 100 per cent digitally enabled.