Calcutta HC: Award May Be Set Aside if Tribunal Rewrites Contract or Ignores Key Clauses  ||  Delhi HC Suspends Kuldeep Singh Sengar’s Life Term, Holding Section 5(C) of POCSO Not Made Out  ||  Calcutta High Court: Arbitration Clause in an Expired Lease Cannot be Invoked For a Fresh Lease  ||  Delhi High Court: 120-Day Timeline under Section 132B Of Income Tax Act is Not Mandatory  ||  NCLAT Reaffirms That Borrower's Debt Acknowledgment Also Extends Limitation Period for Guarantors  ||  NCLAT: Oppression & Mismanagement Petition Cannot Be Filed Without Company Membership on Filing Date  ||  Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy  ||  NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required  ||  NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes  ||  Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction    

Digital Payment Transactions - Streamlining QR Code infrastructure- (Reserve Bank of India) (22 Oct 2020)

MANU/RMIC/0150/2020

Banking

1.Reserve Bank had constituted a Committee (Chairperson : Prof Deepak Phatak) to review the current system of Quick Response (QR) Codes in India and suggest measures for moving towards interoperable QR Codes. The report of the Committee containing various recommendations was placed on the Reserve Bank website for public comments and feedback.

2. After examining the recommendations and the feedback received, the following has been decided:

i. The two interoperable QR codes in existence - UPI QR and Bharat QR - shall continue as at present.

ii. Payment System Operators (PSOs) that use proprietary QR codes shall shift to one or more interoperable QR codes; the process of migration shall be completed by March 31, 2022.

iii. No new proprietary QR codes shall henceforth be launched by any PSO for any payment transaction.

iv. RBI shall continue a consultative process to standardise and improve interoperable QR codes, to enable beneficial features identified by the Phatak Committee.

v. PSOs may take initiative to increase awareness about interoperable QR codes.

3. The above measures are expected to reinforce the acceptance infrastructure, provide better user convenience due to interoperability and enhance system efficiency.

4. This directive is issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

Tags : DIGITAL PAYMENT   TRANSACTIONS   QR CODE  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved