EconomySaturday, 25 April 2026·https://testbook.com/current-affairs/25-april-2026-daily-current-affairs
Pay Point India becomes first private fintech in RBI Centralised Payment System
On 25 April 2026, Pay Point India Network became the first private-sector fintech to get direct membership in the RBI’s Centralised Payment System.
Key highlights
Direct fact
On 25 April 2026, Pay Point India Network became the first private-sector fintech to secure direct membership in the Reserve Bank of India’s Centralised Payment System (CPS), gaining independent access to RTGS and NEFT.
Key specifics
- The firm can now use RTGS and NEFT without relying on partner banks.
- It received an independent IFSC code for direct operations.
- The company maintains both a current account and a settlement account with the RBI.
- Earlier non-bank CPS members mentioned include NPCI, CCIL and DICGC.
- RBI was established on 1 April 1935 under the RBI Act, 1934, and nationalised on 1 January 1949.
Exam lens
Question type: banking system and payment rails, CPS, RTGS, NEFT, RBI, IFSC code, direct membership. TNPSC may ask which private fintech first entered RBI’s CPS directly and what systems it can access.