The Reserve Bank of India ( RBI ) has issued a directive urging Payment Service Providers ( PSPs ), including banks and authorised non-bank entities, to review and modify their payment systems to enhance accessibility for Persons with Disabilities (PwDs). This follows guidelines set in its 2015 Master Circular on Customer Service in Banks, as well as the more recent ‘Accessibility Standards and Guidelines for the Banking Sector’ issued by the Ministry of Finance in February 2024.

With digital payments becoming integral to the daily lives of individuals across all demographics, the RBI emphasises the need for inclusive payment solutions that cater to PwDs. Become an Expert in Tax Regulations: Sections 269 and Beyond, Click here PSPs are required to assess their current systems, including Point-of-Sale (POS) machines and other devices, ensuring they are accessible to all users.

The Modifications should be made in line with the government’s accessibility standards, and care must be taken not to compromise the security of these systems while enhancing usability for PwDs, stated the RBI in its press release. In compliance with this directive, the apex bank directed the PSPs to submit a report within one month, detailing systems requiring changes and a time-bound action plan for implementing necessary modifications. Additionally, PSPs are directed to designate a Nodal Officer for addressing further inquiries or clarifications.

The RBI has mandated this review and modification process under Section 18, read with Section 10(2), of the Payment and Settlement Systems Act, 2007.