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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

NPCI - Addendum to Implementation of NRP (NPCI Review Panel) & PRD (Panel for Resolution of Dispute) Process & Arbitration Guidelines

30-Jun-2025 | NPCI/UPI/OC 208A/2025-26

NPCI has issued an addendum regarding the implementation of the NRP and PRD Process and Arbitration Guidelines, which will take effect from August 1, 2025. Key Highlights of the Addendum: 1. The NRP (NPCI Review Panel) process has been automated in URCS, replacing email-based communication. 2. Banks can now submit complaint documents directly through the URCS when initiating arbitration from the front-end portal. 3. If arbitration is accepted, settlement details will be included in the adjustment report, and NRP verdicts will also be displayed in URCS rather than being sent via email. 4. RBI customer compensation confirmation (AC/AT) for P2M (Person-to-Merchant) transactions will now be reflected in URCS, eliminating the need for email confirmations. 5. Arbitration fees will be charged following the NRP/PRD verdict for chargebacks initiated from October 5, 2024. 6. The timeline for raising a PRD (Panel for Resolution of Dispute) has been reduced from 15 calendar days to 5 calendar days from the date of the NRP verdict. For more information, please refer to the document.

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Recent Posts in Corporate Laws

Corporate Laws

IFSCA notifies International Financial Services Centres Authority (Electronic Trading Platforms) Regulations, 2026

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Industry Specific - Food Laws

Food Safety and Standards (Laboratory and Sample Analysis) Amendment Regulations, 2026 notified

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Local laws

Tamil Nadu enacts amendment to Town and Country Planning Act, 1971

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Legal

Tamil Nadu enacts Second Amendment to the Tamil Nadu Panchayats Act, 1994

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Notification regarding establishment of Indian Standards and their date of withdrawal of previous standards

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