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RBI Master Directions 2025, Compliance And Operational Challenges For Payment Aggregators.
On 15 September 2025, the Reserve Bank of India issued the Master Direction on Regulation of Payment Aggregators, 2025 ("Master Directions 2025"), a consolidated framework that replaces and supersedes the 2020–21 guidelines on payment aggregators and gateways and earlier directions on cross border payment aggregation.
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