MUMBAI, India, June 15 -- Reserve Bank of India issued the following press release:
Under the statutory powers conferred upon it by Payment and Settlement Systems Act, 2007 (PSS Act), RBI had issued various directions for operation of a Payment System. Today, RBI has issued Master Directions on Authorisation to operate a Payment System which consolidates instructions issued through following circulars/ guidelines, and comes into effect immediately:
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Computation of Net-worth dated January 16, 2015.
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Guidelines for Voluntary Surrender of Certificate of Authorisation dated May 12, 2016.
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On-tap Authorisation of Payment Systems dated October 15, 2019.
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Authorisation of entities for operating a Payment System under the PSS Ac...