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Authorisation given to a new entity is valid on a basis that is:

APreferential
BProgressive
CPerpetual
DProvisional
Answer & Solution
Correct answer: C. Perpetual
1. The certificate does not have to be renewed on a cycle. 2. It stands so long as conditions are met. 3. It is granted on a perpetual basis. _Source: RBI Master Directions on Authorisation to operate a Payment System_
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