Question
What is the minimum requirement for a person or entity
to apply for authorization as a Payment Service Provider (PSP) under the IFSCA (Payment Services) Regulations, 2024?Solution
According to the IFSCA (Payment Services) Regulations 2024, any person or entity applying for authorization as a Payment Service Provider (PSP) must be incorporated as a company with its registered office in the IFSC (International Financial Services Centre).
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