12 May 2012

Connection of Banks with Centralized Electronic Payment System

The Reserve Bank of India (RBI) has initiated action to expand the membership of Centralized Electronic Payment System (CEPS) making more banks eligible to connect to these systems. RBI issued instructions in September, 2011 by which the access criteria to Centralised Electronic Payment Systems has been rationalized by bringing down the net worth requirement to Rs. 25 crore from Rs.50 crore, thus making more banks eligible for membership of CEPS. Since April 2012, sub-membership route to Centralised EPS has also been opened to all licenced banks who were not participating in these systems on account of either not meeting the access criteria or because of cost considerations. 

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today. 

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