Tuesday, 21 February 2017

Payment service licenses should be given after proper scrutiny

RBI's Deputy Governor R Gandhi has said that granting licences to payment service providers cannot be a 'tickbox exercise' as entities will be entrusted with money, and so fit and proper criterion is important. Commenting on the issue, RBI's Deputy Governor R Gandhi told the media, “There is an implied suggestion that this (payment) sector needs to be freed of licensing mechanism and once a set of criteria are followed to function. We differ from this idea."

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