Mumbai : Reserve Bank (RBI) on Wednesday released FAQs for clarity on issues raised by Payment System Operators (PSOs) related to it's Data Localization directive dated April 06, 2018. Its intended to facilitate and ensure expeditious compliance by all PSOs, says RBI.
FAQs are as below.
1. Applicability of the direction
The directions are applicable to all Payment System providers authorised / approved by the Reserve Bank of India (RBI) to set up and operate a payment system in India under the Payment and Settlement Systems Act, 2007.