The Reserve Bank of India vide its notification dated 17th March 2022 has amended the Payment and Settlement Systems regulation 2008. Through this amendment certain monthly / quarterly / annual returns prescribed in sub-regulations (a) to (g) of regulation 6 (2) have been discontinued and redundant operational guidelines listed in the ‘schedule’ to regulation 5 have been removed in order to reduce the compliance burden on Regulated Entities (REs)
Regulation 6 deals with submission of returns, documents etc in which every system provider shall be bound to submit to the Bank such returns, documents and other information as may be required by the Bank from time to time.
