RBI Update - Regulation of Payment Aggregator – Cross Border (PA - Cross Border)

The developments that have taken place in the area of cross-border payments, it has been decided to bring all entities facilitating cross-border payment transactions for the import and export of goods and services under direct regulation of the RBI. Such entities shall be treated as Payment Aggregator-Cross Border (PA-CB).

Entities, including Authorised Dealer (AD) banks, PAs and PAs-CB, involved in processing/settlement of cross-border payment transactions for import and export of goods and services, shall comply with these instructions.

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