The Reserve Bank of India has issued the Reserve Bank of India (Non-Bank Prepaid Payment Instrument Issuers – Internal Ombudsman) Directions, 2026 in view of the rapid growth of digital payment instruments and increasing customer grievances. The Directions aim to institutionalise an independent internal review mechanism and enhance consumer confidence in digital payments.
Applicability
These Directions apply to Non-Bank Prepaid Payment Instrument Issuers having more than one crore outstanding PPIs as on March 31, 2025, or thereafter. PPI Issuers meeting the threshold subsequently shall be covered after six months, and the applicability shall continue even if the outstanding PPIs fall below the threshold at a later stage.
Amendments
A new and dedicated Internal Ombudsman framework has been introduced for Non-Bank PPI Issuers, which were earlier governed only by internal grievance redress norms. The Directions mandate independent review of all partially resolved and rejected complaints by an Internal Ombudsman prior to closure. They also prescribe appointment of Deputy Internal Ombudsman, Board oversight, standardised reporting, and regulatory supervision, replacing the earlier common framework.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13275&Mode=0
