RBI Orders Payment Service Providers to Review of Payment Systems for Improved Accessibility to Persons with Disabilities

The Reserve Bank of India (RBI) has issued a directive urging Payment Service Providers (PSPs), including banks and authorized non-bank entities, to review and modify their payment systems to enhance accessibility for Persons with Disabilities (PwDs). This follows guidelines set in the 2015 Master Circular on Customer Service in Banks and the 2024 Accessibility Standards and Guidelines for the Banking Sector. PSPs must assess their current systems, including Point-of-Sale (POS) machines, ensuring they are accessible to all users. The RBI mandates a report within one month detailing necessary changes and a time-bound action plan.