Sale / Transfer of payment activity to an entity not authorised for undertaking similar activity.Takeover / Acquisition of control, which may / may not result in change of management.I.Non-bank PSOs mandated to require prior approval of RBI in the following cases – PSOs are institutions, which have been authorized to operate payment systems.RBI in exercise of its powers conferred under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 issues new guidelines for non-bank payment system operators (PSOs). Ix.According to the report, India reported the second-highest compounded annual growth rate (CAGR) of 21 percent (2017-2020), behind only Saudi Arabia, which registered an annualized growth of 26 percent. The report has recommended India to explore further actions on enhancing cross-border payment arrangements including internationaliz ation of Indian rupee which will facilitate greater integration with the rest of the world, in terms of foreign trade and international capital flows. In 2020, the share of card payments in total payment systems transactions was the second lowest in India (14.7%), with only Indonesia witnessing a lower share (7.2%). Vi.India has the third largest number of ATMs deployed, but remains weak with regard to people served per ATM due to its sizeable population. However, RuPay is lagging in the credit card segment with below 3% share of total cards issued.India’s domestic card network, RuPay, dominates the debit card segment with respect to card issuance. The National Electronic Funds Transfer (NEFT) system operated by RBI is available 24×7 and ensures settlement in half hourly batches.Immediate Payment Service (IMPS) and Unified Payments Interface (UPI). ![]() The reason behind the decline in India’s rating in some parameters was due to the increased demand for cash as a store of value during the Covid-19 pandemic related lockdown and the slowdown in economic growth during 2020. The Payments Infrastructure Development Fund (PIDF) scheme was operationalised in 2021 to enhance the acceptance infrastructure and bridge the gap. ATMs (Automated teller machines) and PoS (Point of Sales) terminals. I i.There is scope for improvement in acceptance infrastructure i.e.
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