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Nov - IT, Communication & Computers - Coggle Diagram

- - - - roll out its payment service
    - - Unified Payments Interface (UPI)
      - used
        
        for real-time payments
        
        btw peers or at merchant´s end
        
        while making purchases
  - - - via UPI
    - - of transaction volumes
      - starting Jan-1-21
  - - - to use exclusive QR codes
      - only work on their own platforms
    - - asked payment apps
      - shift to one or more
        
        interoperable QR codes
- - - - as for-profit org
      - comprising ATMs, white label PoS
      - Adhaar-based payments
      - remittance services
      - for
        
        related issues in
        
        country and International
        
        monitor retail payments and system development
        
        identify and manage relevant risks
        
        participating banks and non-banks
    - - Companies Act, 2013
    - - necessary rules and related process
      - ensure system safe
      - payments
        
        exchanged efficiently
    - - RBI payments and settlements system
      - current account with RBI if required
    - - Payment and Settlement System Act, 2007
    - - applicant entity should comply
      - with Foreign Exchange Management Act Rules
    - - set by the RBI
      - right to appoinment of directors
      - and nominated members
        
        on the entities board
- - - - local data samples
      - without exchanging them
  - - - no central dataset
  - - - to build a common
    - - without sharing data
    - - data privacy, data security,
      - data access rights and
      - access to heterogeneous data
      - limiting the attack
        
        surface to only the device
        
        rather than
        
        the device and the cloud.
  - - - legislation for robust data protection
    - - Srikrishna Committee
      - address concerns about
      - online data privacy
      - in line with 2018 Puttaswamy judgment.