RBI Tightens Cyber Resilience and Security for Non-bank PSOs

The RBI has mandated that non-bank payment system operators implement real-time fraud monitoring to identify suspicious behavior and auto-terminate inactive sessions. These measures aim to enhance the security and resilience of payment systems, including encrypted storage of card details and multilingual transaction alerts.

The Reserve Bank of India (RBI) has introduced new guidelines for non-bank payment system operators (PSOs) to enhance the security and cyber resilience of digital payment systems.

Effective immediately, PSOs are required to implement real-time fraud monitoring solutions and ensure that mobile sessions auto-terminate after a fixed period of inactivity.

The guidelines aim to improve safety by mandating encrypted storage of card details, setting transaction limits, and developing comprehensive data leak prevention and business continuity plans.