Sets the licensing process for non-bank payment instrument issuers, payment facilitators and third-party payment service providers, and the authorisation route for banks. Requires a compliance officer resident in Namibia (s 14), monthly reporting (s 24) and prior approval for significant changes (s 18). Gazette 8822, 6 January 2026, replacing the version in General Notice 84 of 2024. It has no sandbox provisions.
The Reserve Bank of India imposed a monetary penalty of ₹3.10 lakh on Ola Financial Services Private Limited for non-compliance with KYC directions under the Payment and Settlement Systems Act, 2007. Following a…
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