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ARTICLE · 19 JUNE 2023

Master Directions On Cyber Resilience And Digital Payment Security Controls For Payment System Operators

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The Reserve Bank of India ("RBI") had issued draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators ("DPSC Directions")...

IndiaTechnology
Jitendra Soni
Jitendra Soni
Esha Dinesh
Esha Dinesh
Harsh Garg
Harsh Garg
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The Reserve Bank of India ("RBI") had issued draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators ("DPSC Directions") on June 02, 2023 pursuant to powers granted under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007), inviting comments from all stakeholders. The DPSC Directions covers the robust governance mechanisms for identification, assessment, monitoring and management of these risks. It also extensively covers baseline security measures for ensuring system resiliency as well as safe and secure digital payment transactions.

The intent herein is to improve safety and security of the payment systems operated by for Payment System Operators ("PSOs") by providing a framework for overall information security preparedness with an emphasis on cyber resilience. The Payment and Settlement Systems Act, 2007 defines 'payment system' as a system that enables payment

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