RBI unveils new payment system authorisation framework, introduces perpetual approval – CNBC TV18

The RBI said entities, promoters and promoter groups must satisfy its "fit and proper" criteria, including requirements relating to integrity, financial soundness and regulatory compliance. Applications that do not meet minimum eligibility requirements or are incomplete may be returned. The Reserve Bank of India (RBI) on Monday (June 15) issued Master Directions on Authorisation to Operate a Payment System under…

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