Request for Inputs: Draft framework for recognition of a Self-Regulatory Organisation for Payment System Operators
Blog: NASSCOM Official Blog
Dear Members,
On 18 August 2020, the Reserve Bank of India (RBI) released Draft framework for recognition of 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, said RBI in a statement.
The SRO shall serve as a two-way communication channel between the PSOs and the Reserve Bank. It will work towards establishing minimum benchmarks and standards in the payments space, it added.
The Central Bank has invited comments on the draft framework from all stakeholders by 15 September 2020.
Nasscom has prepared a Policy Brief on the draft guidelines (link).
You are requested to email us your inputs at komal@nasscom.in by 09 September 2020 (Wednesday) so that Nasscom can consider them in its response to RBI.
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