The International Financial Services Centres Authority (IFSCA) on October 08, 2024, issued a circular regarding Format for providing information by a Payment Service Provider (PSP).
The following has been stated: -
•The IFSCA has established a format for Payment Service Providers (PSPs) to submit required information under regulation 32 of the Payment Services Regulations, 2024.
•Key returns, including auditor certificates and net worth declarations, must be submitted in specified formats and within set deadlines, with some documents allowed in physical or soft copy form. PSPs must inform the IFSCA of designated officials responsible for submissions. Non-compliance or inaccurate information may lead to regulatory penalties.
The detailed circular is given in the document below.
[Circular No. IFSCA-FMPP0BR/3/2023-Banking]
