Question

According to the IFSCA (Payment Services) Regulations,

Q: Answer-According to the IFSCA (Payment Services) Regulations, 2024, what is the primary duty of a Payment S...

A Payment Service Provider PSP is required to protect applicable funds and comply with Anti-Money Laundering AML, Counter-Terrorist Financing CTF, and Know Your Customer KYC guidelines as outlined by IFSCA.

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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According to the IFSCA (Payment Services) Regulations,

Solution