SC: Hard to Believe Married Woman Was Lured Into Sex by False Marriage Promise; Case Quashed  ||  SC: Properties Acquired by Karta are Presumed to be Joint Hindu Family Assets unless Proven Otherwise  ||  SC: Trial Courts Must Record that Free Legal Aid was Offered to Accused Before Witness Examination  ||  SC: State Government Employees Cannot Claim Dearness Allowance Twice a Year Unless Rules Allow  ||  P&H High Court: Anticipatory Bail on Settlement Can be Revoked if Compromise is Broken  ||  Delhi High Court: Consenting Adults can Choose Life Partners Without Societal or Parental Approval  ||  Cal HC: Excessive Palm Sweating Alone Cannot Render Candidate Medically Unfit for CAPF Appointment  ||  Del HC: Mother's Right to Education and Personal Growth Cannot be Restricted Due To Custody Disputes  ||  SC: Under RTE Act, States Cannot Justify Low Teacher Pay by Citing Centre’s Failure to Release Funds  ||  Supreme Court: While a Child’s Welfare is Paramount, It is Not the Sole Factor in Custody Disputes    

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 2026 - All Rights Reserved