Other electronic modes of payment

Rule 48 — Other electronic modes of payment

Parent Act Section(s): Section 66, Section 146

Full Text

48. Other electronic modes of payment.– For the purposes of Schedule VIII [Table: Sl.No. 1. D(d)], section 66(32), section 146(5)(a)(ii)(B), sections 185, 186 and 188, the other electronic modes of payment shall be the following:— (a) Credit card; (b) Debit card; (c) Net banking;

(d) IMPS (Immediate Payment Service); (e) UPI (Unified Payment Interface); (f) RTGS (Real Time Gross Settlement); (g) NEFT (National Electronic Funds Transfer); (h) BHIM (Bharat Interface for Money) Aadhaar Pay; and (i) Tier-III: Full KYC Central Bank Digital Currency wallets, P-CBDC, Wholesale/Cross-border CBDC.

Cross-References

Act Sections Referenced

• Section 66
• Section 146

Related Rules

• None

Practical Notes

[To be populated — interpretive notes, circular references, case law pointers]