Question

According to the IFSCA (Payment Services) Regulations, 2024, what is the primary duty of a Payment Service Provider in relation to client funds?

A To invest client funds in government securities
B To protect applicable funds and comply with AML and KYC guidelines
C To lend out client funds at a regulated interest rate
D To maintain a fixed deposit of client funds with IFSCA
E To segregate client funds in international accounts
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