The Financial Services Centres Authority (IFSCA) on October 10, 2023, issued a consultation paper on the draft IFSCA (Payment Services) Regulations, 2023.
The following has been stated namely: -
• The objective of this consultation paper is to seek comments/views/suggestions from the public on the proposed International Financial Services Authority (Payment Services) Regulations, 2023.
• The Update includes: -
1. Clear specification of activities included under the definition of “payment services” and those that are excluded from the definition of “payment services”
2. Authorisation and associated requirements
3. Authorisation criteria
4. Revocation and surrender of authorization
5. Governance arrangements
• Comments/suggestions may be sent through e-mail to Mr. Supriyo Bhattacharjee at [email protected] and Mr. Vaibhav Sattavan at [email protected] on or before November 10, 2023 in the prescribed format. The comments may be provided in MS Word or MS Excel format only. The format for the same has been attached to the notification.
