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RBI issues Master Directions on cyber security for non-bank payment operators

For: Business

RBI has published Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators. Firms running payment systems must align their security controls with these directions.

Summary by TaxSavvy. Read the official notice.

Read the official notice (opens RBI notifications in a new tab)

  1. Facts

    RBI has notified Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators.

  2. Provisions and law

    Issued as RBI Master Directions for non-bank Payment System Operators, as published on the RBI notifications page.

  3. Analysis

    Non-bank payment system operators need to read the full directions and map their existing cyber security and digital payment controls against the requirements set out in them.

  4. Conclusion

    If your business is a non-bank Payment System Operator, review the Master Directions and plan your compliance work.

What to do

  1. InformationDownload the full Master Directions from the RBI notification link and check whether your entity falls within the scope of non-bank Payment System Operators.
  2. DiscussionDiscuss with your technology and compliance teams which existing cyber resilience and digital payment security controls already meet the directions and where gaps remain.
  3. DeliverablesPrepare an internal compliance gap note and action plan aligned to the Master Directions.

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Official source: RBI notifications, “Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators”. This summary is general information, not advice for your case. The official notice is the final word.