Reserve Bank invites comments on the draft framework for recognition of a Self-Regulatory Organisation (SRO) for Payment System Operators

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....eserve Bank invites comments on the draft framework for recognition of a Self-Regulatory Organisation (SRO) for Payment System Operators <br>News and Press Release<br>Dated:- 18-8-2020<br><BR>As annou....

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....nced in the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated February 6, 2020, the Reserve Bank hereby places a draft framework for grant of recogni....

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....tion to an industry association as 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 o....

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....bserve best practices on security, customer protection and competitiveness. The SRO shall serve as a two-way communication channel between the PSOs and Reserve Bank and work towards establishing minim....

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....um benchmarks and standards in the payments space, apart from helping disciplined behaviour by members. The framework is placed for public comments which may be forwarded through email so as to reach....

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.... on or before September 15, 2020. (Yogesh Dayal) Chief General Manager<BR> News - Press release - PIB....