RBI tightens digital payment security norms for lenders; issues new rules
RBI tightens digital payment security norms for lenders; issues new rules The 'Master Direction' lays down guidelines for internet banking, mobile payments, card payments, customer protection, and grievance redressal mechanism BusinessToday.In | February 19, 2021 | Updated 16:30 IST The new norms come at a time when India's thriving payments ecosystem has witnessed increased occurrences of frauds, outages, and cyber breaches The Reserve Bank of India (RBI) has toughened digital payment security norms to improve security, control, and compliance for banks and other regulated entities. The ne...
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