Question

What is the minimum requirement for a person or entity to apply for authorization as a Payment Service Provider (PS

  • P under the IFSCA (Payment Services) Regulations, 2024?
A Must be a registered international financial institution
B Must have a physical office in India
C Must be incorporated as a company with its registered office in IFSC
D Must have a net worth of at least USD 1 million
E Must have completed five years of operations as a payment processor
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