RBI to set up a 24×7 helpline for Digital Payment Services

The Governor of Reserve Bank of India, Shaktikanta Das, recently
announced that the central bank will set up a 24*7 helpline platform in
order to strengthen the digital payment services in India. This
announcement was made through the Statement on Development and
Regulatory policy.

Highlights

1) RBI has come up with many safety and security features apart from the
measures to redress the grievances of the users in the past as well.
2) This announcement will further enhance the digital payments
experience of users in India.
3) The RBI released the Payment Systems Vision document.
4) The document highlights the need of setting up a 24×7 helpline in
order to address the customer queries with respect to the digital
payment products.
5) As per the guideline, major payment system operators are required to
facilitate setting-up of a centralised 24×7 helpline to address the
customer queries by September 2021.
6) Apart from this helpline facility, guidelines will also be issued on
the outsourcing for the Operators and Participants of Authorised Payment
Systems.

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