The Reserve Bank of India (RBI) will introduce new Digital Payment Security Controls for regulated entities, to enhance the adoption of digital payments platforms in a more safe and secure manner. The central bank will issue a draft guideline soon for public comments, it said in its Statement on Developmental and Regulatory Policies on December 4. The guidelines will be technology and platform agnostic, the RBI said. "[...] it is proposed to issue Reserve Bank of India (Digital Payment Security Controls) Directions, 2020 for regulated entities to set up a robust governance structure for such systems and implement common minimum standards of security controls for channels like internet, mobile banking, card payments, among others," it said. At present, banks have to comply with security guidelines set by the RBI, while payment system operators licensed by the central bank have separate…
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