MP High Court: Estranged Husband Entitled to Loss of Consortium Compensation After Wife’s Death  ||  J&K & Ladakh HC: Claims under Roshni Act Void Ab Initio, Ownership Rights Null from Inception  ||  Madras High Court Directs Expedited Trials in 216 Pending Criminal Cases Against MPs and MLAs  ||  MP High Court: Allowing Minor to Drive Without Valid License Constitutes Breach of Insurance Policy  ||  Punjab & Haryana High Court: Cyber Fraud Cases Uphold Public Trust, Cannot Be Quashed by Compromise  ||  SC: Customer-Banker Relationship Based on Mutual Trust, Postmaster’s Reinstatement Quashed  ||  Supreme Court: Company Buying Software for Efficiency and Profit Is Not a ‘Consumer’ under CPA  ||  SC: Long Custody or Trial Delay Not Ground for Bail in Commercial Narcotic Cases if S.37 Unmet  ||  Calcutta HC Disqualifies Politician Mukul Roy from Assembly under Anti-Defection Law  ||  Supreme Court Bans Mining in and Around National Parks and Wildlife Sanctuaries    

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 2025 - All Rights Reserved