SC: Confirmation of an Auction Sale Does Not Bar Judicial Scrutiny of Reserve Price Valuation  ||  Supreme Court Sets Aside Conviction of Four Men in a 1998 Gang Rape Case  ||  Supreme Court: Privy Purse Privileges of Princely Rulers are Not Enforceable Legal Rights  ||  Delhi HC: Repeated Court Summons May Distress and Re-Traumatize Child Sexual Assault Victims  ||  Jammu and Kashmir High Court: Labeling Someone as a Terrorist Associate Amounts to Defamation  ||  Delhi HC: Setting Aside or Altering a Judge’s Order by a Higher Court Doesn’t Affect Their Integrity  ||  Delhi High Court: Accused Cannot be Faulted For Smart Replies; Interrogator Must be Sharper  ||  Supreme Court: Belated Jurisdictional Challenge Impermissible After Participation in Arbitration  ||  Supreme Court: Failure to Prove Specific Overt Acts of Each Unlawful Assembly Member Not Fatal  ||  Supreme Court: Parental Salary Alone Cannot Determine OBC Creamy Layer Status    

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