RBI through notification dated October 22, 2020 has issued the Framework for Recognition of a Self-Regulatory Organization for Payment System Operators. Reserve Bank of India’s Payment and Settlement Systems Vision 2019-21, previously envisaged the setting up of a Self-Regulatory Organization (SRO) for Payment System Operators (PSOs).
Interested groups / association of PSOs (banks as well as non-banks) seeking recognition as an SRO may apply to the Chief General Manager of Department of Payment and Settlement Systems, complying with the instructions laid down in the Framework.
