RBI Comes Up With Guidelines To Set Up Robust Governance Structure For Digital Payments
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The Reserve Bank of India (RBI) has published detailed guidelines to strengthen India's digital payments architecture and improve security, control and compliance among banks, gateways, wallets and other non-banking entities. RBI noted that the Master Direction provides necessary guidelines to set up a robust governance structure and implement common minimum standards of security controls for digital payment products and services. The guidelines are technology and platform agnostic and shall create an enhanced and enabling environment for customers to use digital payment products in a more safe and secure manner.
