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Promoters and promoter groups must meet criteria described as:

AFair and prudent
BFull and prudent
CFit and proper
DFirm and proper
Answer & Solution
Correct answer: C. Fit and proper
1. The test covers credentials, integrity and reputation. 2. It extends to directors of group companies. 3. It is the fit and proper test. _Source: RBI Master Directions on Authorisation to operate a Payment System_
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