Friday, 10 March 2017

Centre issues draft rules on e-wallet payments

Centre issues draft rules on e-wallet payments

The Centre has issued draft rules to ensure integrity(अखंडता), security and confidentiality (गोपनीयता) of electronic payments made through prepaid payment instruments (PPIs), popularly called e-wallets. The draft rules, on which the Ministry of Electronics and Information Technology has sought (मांगा) public comments, make it mandatory(अनिवार्य) for e-PPI (electronic pre-payment instrument) issuers to develop an information security policy that ensures that the systems operated by them are secure.

The Information Technology (Security of Prepaid Instruments) Rules, 2017, define an e-PPI issuer as a “person operating a payment system issuing prepaid payment instruments to individuals/organisations” under the aegis of Reserve Bank of India. The rules make it compulsory for e-PPIs to publish on their websites and mobile applications both their ‘privacy policy’ and terms for use of their payment systems. The draft also details the requirements of a privacy policy. The rules mandate that e-PPIs should carry out risk assessment to spot security risks and also ensure adequate due diligence(परिश्रम) is done before issuing PPIs.

Definitions of mandatory अनिवार्य
required by law or rules; compulsory.
wearing helmets was made mandatory for cyclists
synonyms: obligatory, compulsory, binding, required, requisite, necessary, essential, imperative


Definitions of diligence परिश्रम
careful and persistent work or effort.
It's all just going to take diligence and persistence and we've got plenty of that.
synonyms: conscientiousness, assiduousness, assiduity, hard work, application, concentration, effort, care, industriousness, rigor, meticulousness, thoroughness, perseverance, persistence, tenacity, dedication, commitment, tirelessness, indefatigability, doggedness
a public stagecoach.

No comments:

Post a Comment