The Reserve Bank of India (RBI) has announced that it will directly regulate all entities involved in cross-border payment transactions for import and export of goods and services. The new regulations aim to curb small-scale imports of restricted items through international e-commerce sites. The RBI has set a minimum net worth requirement of Rs 15 crore for these entities, which will be categorized as payment aggregator-cross border (PA-CB). The central bank has also instructed banks to close accounts of cross-border payment aggregators not registered with RBI.