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Access Criteria for Payment Systems-Membership to Clearing Houses operating Decentralised Payment Systems

RBI/2011-12/448
DPSS (CO) CHD.No/ 1691/ 03.01.14 / 2011-2012

March 15, 2012

The Chairman and Managing Director /Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks/
Scheduled Co-operative Banks/Banks participating in NEFT and RTGS/
Regional offices of RBI

Dear Sir/Madam

Access Criteria for Payment Systems-Membership to Clearing Houses operating Decentralised Payment Systems

Please refer to our circular no. DPSS.CO.OD.494/ 04.04.009/2011-2012 dated September 21, 2011 on the above subject.

In order to simplify/rationalise the procedure for admission of members to Clearing Houses operating various decentralised payment systems (MICR/non-MICR/CTS Centres/ECS/RECS etc.), it has now been decided to grant automatic membership for such decentralised payment systems to the entities which are direct participants of centralised payment systems like RTGS, NEFT and NECS.

Accordingly, a new paragraph 4.10.1 has been inserted in the above circular as under:

“4.10.1 Scheduled commercial banks, Regional Rural Banks and multi state co-operative banks which have already been admitted as participants of the centralised payment systems(RTGS,NEFT and NECS) will be eligible for automatic membership of the decentralized payment systems (including CTS, ECS/RECS etc.) across all Clearing Houses.”

The updated list of participants of Centralised payment systems have been made available on the web-site of the Bank under the links (http://www.rbi.org.in/Scripts/Bs_viewRTGS.aspx) and http://www.rbi.org.in/Scripts/neft.aspx .

The amendments come into force with immediate effect

Please acknowledge receipt.

Yours faithfully

(Vijay Chugh)
Chief General Manager


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