Brind.
  1. UPI payment fees and Merchant Discount Rate structure changes
  2. The government has mandated new digital data protection standards, utilizing the Reserve Bank of India for financial oversight.

RBI Mandates Cybersecurity Rulebook for Payment Operators and ATM Providers

1 report, 1 independent Updated 00:00
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What happened

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The Reserve Bank of India issued new Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank payment system operators (PSOs). This rulebook mandates annual system audits and brings third-party automated teller machine (ATM) switch providers under its oversight. PSOs must also report cyber incidents to the RBI within six hours of detection.

From rediff.com

Why it matters

Some supportBrind's analysis of the reports

The new rules aim to fortify digital payment security against evolving threats, including those driven by artificial intelligence. The scope of the Master Directions applies to entities such as the National Payments Corporation of India, card networks, and payment aggregators.

The government has mandated new digital data protection standards, utilizing the Reserve Bank of India for financial oversight.

From rediff.com

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