Repeal and savings preserve prior payment-system actions and instructions in international financial service centres pending regulatory modification. The Reserve Bank of India's Payment and Settlement Systems Regulations, 2008 cease to apply in an International Financial Service Centre from ... Summary
Repeal and savings preserve prior payment-system actions and instructions in international financial service centres pending regulatory modification.
The Reserve Bank of India's Payment and Settlement Systems Regulations, 2008 cease to apply in an International Financial Service Centre from commencement. Earlier actions, including guidelines, circulars and directions, are preserved and deemed taken under corresponding provisions. Applicable existing instructions are deemed issued under the current framework until superseded or modified by the Authority.
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