PAYMENT AND SETTLEMENT SYSTEMS

Payment and settlement systems play an important role in improving overall economic efficiency. They consist of all the diverse arrangements that we use to systematically transfer money-currency, paper instruments such as cheques, and various electronic channels.

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PDF - Directions for submission of system audit reports from CISA qualified Auditor ()
Date : Jun 14, 2011
Directions for submission of system audit reports from CISA qualified Auditor

RBI/2010-11/563
DPSS.CO.OSD. No. 2764/06.11.001/2010-2011

June 14, 2011

To
All Scheduled Commercial Banks

Dear Sir,

Directions for submission of system audit reports from CISA qualified Auditor

Please refer to our circular Ref No. DPSS.1444/ 06.11.001/ 2010-2011 dated December 27, 2010 on the captioned subject.

It is clarified that the contents of the above circular are applicable to only those entities which operate a payment system under the Payment and Settlement Systems Act, 2007. Accordingly, the requirement of system audits is not applicable where a bank/entity is a participant in various payment systems such as RTGS, NEFT, CFMS, ECS, NECS, Card payment systems (Visa, MasterCard, etc.), ATM networks (illustratively like NFS, BANCS) etc.

Please acknowledge receipt.

Yours faithfully

G. Srinivas
(General Manager)

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