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    Question

    Under the IFSCA (Payment Services) Regulations, 2024,

    which key condition must directors and Key Managerial Personnel (KMP) of a Payment Service Provider (PSP) meet?
    A They must have 10 years of experience in the financial sector Correct Answer Incorrect Answer
    B They must satisfy the "fit and proper" requirements Correct Answer Incorrect Answer
    C They must be Indian citizens Correct Answer Incorrect Answer
    D They must own a stake in the PSP Correct Answer Incorrect Answer
    E All of the above Correct Answer Incorrect Answer

    Solution

    The  directors  and  Key Managerial Personnel (KMP)  of a Payment Service Provider (PSP) must meet the  "fit and proper"  criteria set by the IFSCA to ensure integrity and competence.

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