Home › SBI PO › Banking Awareness › Payment Systems › An existing operator not meeting the conditions …
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_
Related questions
A takeover or acquisition of control of a non-bank PSO requires RBI's:Applicants can find guidance in the DPSS FAQs and the RBI website's:New entities set up by promoters of a refused or revoked PSO:A cooling period may follow when a CoA is revoked, surrendered, or an application is:While extinguishing liabilities, the PSO reports progress to RBI:The public notice of closure must appear in English, Hindi and a vernacular language on hoThe Memorandum of Procedure sets out the process and ___ for repaying liabilities.The escrow account statement in a surrender request is certified by the: