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Before electronic money institutions team up with international payment networks, they need the green light from the RBI. The RBI checks if the partnership follows the rules on safety, regulations, and other important factors.
The rules include sticking to the best ways of doing things internationally, keeping data safe, and following the anti-money laundering rules. The RBI might add specific conditions to lower the risks of transactions across borders.
These institutions also have to be clear and share all the info the RBI needs about their partnership with international payment networks. Keeping the RBI updated regularly is crucial to make sure the partnership follows the rules.
The rules include sticking to the best ways of doing things internationally, keeping data safe, and following the anti-money laundering rules. The RBI might add specific conditions to lower the risks of transactions across borders.
These institutions also have to be clear and share all the info the RBI needs about their partnership with international payment networks. Keeping the RBI updated regularly is crucial to make sure the partnership follows the rules.
