What changed
RBI has repealed the Reserve Bank of India (Payment Banks – Prudential Norms on Declaration of Dividends) Directions, 2025, and replaced them with new Directions, 2026, effective from Financial Year 2026-27.
What it means for you
The repeal and replacement mean that payment banks must follow the new Directions, 2026 from FY 2026-27, while existing actions under the 2025 Directions remain governed by those old rules.
What you must do
- Review and update dividend declaration and distribution practices to comply with new norms
- Ensure adherence to the new Directions, 2026, from FY 2026-27
Who it affects
Payment banks
What is the effective date of the new Directions, 2026?
Financial Year 2026-27
Will the repeal affect existing approvals or acknowledgments?
No, existing approvals or acknowledgments will be deemed governed by the repealed Directions, 2025, not the new Directions, 2026