SC: Appeal U/S 374 CrPC/415 BNSS is Not Maintainable Against Sessions Court's Reversal of Acquittal  ||  SC Asked the Centre to Promote Awareness About the Consequences of Driving With an Expired Licence  ||  SC Explains How a Deceased Christian Wife's Property Devolves under the Indian Succession Act  ||  Supreme Court: Reach Stacker isn't a Motor Vehicle; MACT Claim Not Maintainable  ||  Supreme Court: Lift Makers, Operators and Owners Share Responsibility for User Safety  ||  Patna HC: Pressure to Sign Divorce and Child Custody does not Amount to Cruelty  ||  Bombay HC: Externment under the Police Act Requires Satisfaction About a Gang's Activities  ||  Bombay HC: False Travel Distance Claim Alone Doesn't Constitute Misappropriation  ||  J&K&L High Court: Interest on Delayed Gratuity is Not a Mandatory Pre-Deposit For an Appeal  ||  Meghalaya HC: Meritorious Candidate Cannot Be Denied Admission For a Two-Minute Delay    

Framework for outsourcing of payment and settlement-related activities by payment system operators- (Reserve Bank of India) (03 Aug 2021)

MANU/RMIC/0105/2021

Banking

1. The Payment System Operators (PSOs), by virtue of services they provide and the construct of models on which they operate, largely outsource their payment and settlement-related activities to various other entities.

2. In order to enable effective management of attendant risks in outsourcing of such activities, it was announced in the Statement on Developmental and Regulatory Policies released with the bi-monthly Monetary Policy Statement 2020-21 on February 05, 2021, that a framework for outsourcing of payment and settlement-related activities by PSOs, will be issued by the Reserve Bank of India. Accordingly, a framework for the same is provided in the Annex. The PSOs shall ensure that all their outsourcing arrangements, including the existing ones, are in compliance with this framework by March 31, 2022.

3. This framework is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

Tags : FRAMEWORK   OUTSOURCING   PSO  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved