RBI has issued master directions on payment system operator authorization
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Highlights
- RBI has issued master directions on the authorization of payment system operations under the Payment and Settlement Systems Act, 2007, which will come into effect immediately.
- These instructions incorporate several previous guidelines from 2015 to 2023 related to net worth, authorization certificates, investment restrictions, and voluntary surrender.
- The goal of the RBI is to enhance clarity, make regulations more accessible, and reduce the compliance burden on regulated entities.
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