RBI shall issue guidelines on outsourcing of digital payment, settlement related service

While addressing a virtual press conference in Mumbai on February 05, Reserve Bank of India (RBI) Governor Shaktikanta Das said, "The resilience of digital payment ecosystem to operational risks needs to be constantly upgraded." "A potential area of operational risk is associated with outsourcing by payment system operators and participants of authorised payments systems," he added. "To manage the attendant risks in outsourcing and ensure that code of conduct adhered to while outsourcing payment and settlement related service, RBI shall issue guidelines on outsourcing of such services by these entities," RBI Governor further stated.