J&K&L HC: Repeated Arrests U/S 107 Crpc After UAPA Bail Can be Fresh PSA Detention Grounds  ||  Del HC: Arrest Memo Listing Only Reasons Cannot Substitute Person-Specific Grounds of Arrest  ||  SC: Hostile Witness Testimony Can Support Acquittal as Well, Not Only Conviction  ||  SC: Appointing Candidates on Contract Against Advertised Regular Posts is Patently Illegal  ||  SC: Compensation For Industrial Land Cannot be Based on Residential Plot Sale Deeds  ||  SC: Public Service Vehicles Without Trackers, Panic Buttons Can't Get Fitness Certificates  ||  SC: Fixed Shares Paid to Association of Persons Members are Taxable as Income, Regardless of Profit  ||  Supreme Court: Wife Pursuing Her Career Cannot be Deemed Cruelty For Hurting Her Husband  ||  Supreme Court: Appeals Must Include Certified Copies of Orders, as E-Filing Alone is Insufficient  ||  Supreme Court: Children Have a Fundamental Right to Receive Education in Their Mother Tongue    

Reserve Bank invites comments on the draft framework for recognition of a Self-Regulatory Organisation for Payment System Operators- (Reserve Bank of India) (18 Aug 2020)

MANU/RPRL/0119/2020

Banking

As announced in the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated February 6, 2020, the Reserve Bank hereby places a draft framework for grant of recognition to an industry association as a Self-Regulatory Organisation (SRO) for Payment System Operators (PSOs).

The SRO shall cover operators in all segments of payment systems and will be expected to observe best practices on security, customer protection and competitiveness. The SRO shall serve as a two-way communication channel between the PSOs and Reserve Bank and work towards establishing minimum benchmarks and standards in the payments space, apart from helping disciplined behaviour by members.

The framework is placed for public comments which may be forwarded through email so as to reach on or before September 15, 2020.

Tags : DRAFT FRAMEWORK   RECOGNITION   SELF-REGULATORY ORGANISATION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved