7 months ago
RBI Holds Key Meetings on Payments and NBFCs
The Reserve Bank of India had two important meetings in Mumbai.
The first was the first meeting of the Payments Regulatory Board.
They talked about how payments work in India and around the world.
They also looked at a plan called Payments Vision 2028 and discussed the results of a survey about digital payments.
The second meeting was with leaders of non-banking financial companies (NBFCs) and housing finance companies (HFCs).
The RBI told them to be careful with loans and to take good care of their customers.
Important people from the government and the RBI were there.
These meetings happened because of changes in the laws about payments and to make sure the financial system is strong and fair.
The RBI held the first meeting of the Payments Regulatory Board in Mumbai on January 5, 2026.
The meeting was chaired by RBI Governor Sanjay Malhotra and reviewed the functions of the Department of Payment and Settlement Systems.
The draft Payments Vision 2028 was presented and discussed for strategic guidance, along with the major findings of the Survey on Digital Payments.
The RBI also met with NBFCs and HFCs, emphasizing robust underwriting practices and careful asset quality oversight.
The meeting with NBFCs and HFCs included leaders representing around 53% of the NBFC sector’s assets and discussed policy issues and operational matters.
- Who
- Reserve Bank of India (RBI) and Payments Regulatory Board (PRB) members, NBFCs, HFCs
- What
- First meeting of the Payments Regulatory Board and meeting with NBFCs and HFCs
- Where
- Mumbai
- When
- January 5, 2026
- Why
- To review the functions of the Department of Payment and Settlement Systems, discuss the draft Payments Vision 2028, and emphasize robust underwriting practices and asset quality oversight
Key facts
- Date
- January 5, 2026
- Location
- Mumbai
- Chairperson
- Sanjay Malhotra
- Act
- Payment and Settlement Systems Act, 2007
- Amendment Effective Date
- May 9, 2025
- Key Discussion
- Draft Payments Vision 2028
- Survey Presented
- Survey on Digital Payments
- NBFC Sector Representation
- 53% of assets
- Industry Representation
- Self-regulatory organisations, Sa-Dhan, MFIN, FIDC
Quotes
RBI
The Reserve Bank of India
“The Board reviewed the functions of the Department of Payment and Settlement Systems and current focus areas covering both domestic and global payment systems. The draft Payments Vision 2028 was presented, and Members gave strategic guidance to ensure the continued development of India’s payment ecosystem. A presentation on the major findings of the Survey on Digital Payments, recently conducted by RBI, was also made.”
thehindubusinessline.com
Sources
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