Authorisation for Payment Service Providers depends on eligibility, compliance, nodal bank identification, ongoing disclosure, and continuing conditions.

The Authority may grant a Certificate of Authorisation to an eligible applicant complying with prescribed conditions, subject to further conditions considered appropriate. The certificate remains valid unless revoked or surrendered. A Payment Service Provider may be required to maintain a security deposit, must identify a consenting IFSC Banking Unit or IFSC Banking Company as its Nodal Bank, and must intimate material changes to previously furnished information. Conditions for commencing or continuing Payment Services may be modified.

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