Facilitating accessibility to digital payment systems for Persons with Disabilities - Guidelines

Current Context: The Reserve Bank of India (RBI) issued guidelines on October 11, 2024, to enhance the accessibility of digital payment systems for persons with disabilities (PwDs).

• Payment system participants (PSPs), including banks and authorized non-bank payment providers, are required to review and modify their systems and devices to ensure ease of access.
• This includes making Point-of-Sale (POS) machines and other digital payment devices user-friendly for persons with various disabilities.
• PSPs must adhere to the Accessibility Standards set by the Ministry of Finance.

Question:

1 Who are required to review and modify their systems and devices to ensure accessibility for persons with disabilities according to the RBI guidelines?

• A) Only authorized non-bank payment providers
• B) Only banks
• C) Both banks and authorized non-bank payment providers
• D) Only government financial institutions

Answer: C) The RBI guidelines mandate that all payment system participants (PSPs), including both banks and authorized non-bank payment providers, must review and modify their systems to enhance accessibility for persons with disabilities.