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AUTHORISATION OF ENTITIES FOR OPERATING A PAYMENT SYSTEM UNDER THE PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007

Updated on:4th Dec, 2020
Please refer to provisions contained in Section 4 of PSS Act and ‘Oversight Framework for Financial Market Infrastructures and Retail Payment Systems issued on June 13, 2020’, in terms of which any person before commencing or operating a payment system shall obtain authorisation from the Reserve Bank and for the purpose shall apply in a prescribed format to RBI as defined in Payment and Settlement Systems Regulations, 2008.
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