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An existing operator not meeting the conditions gets renewals of:

AFour years
BFive years
CSeven years
DOne year
Answer & Solution
Correct answer: D. One year
1. Perpetual validity is conditional on full compliance. 2. A lagging operator is given time to catch up. 3. It receives one-year renewals meanwhile. _Source: RBI Master Directions on Authorisation to operate a Payment System_
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