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Authorisation to operate a payment system is available on a basis that is:

AOn tap
BOn call
COn hold
DOn loan
Answer & Solution
Correct answer: A. On tap
1. There is no fixed application window. 2. An entity may apply whenever it intends to operate. 3. The route is on-tap. _Source: RBI Master Directions on Authorisation to operate a Payment System_
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