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On 17 March 2020, the Reserve Bank of India (RBI) adopted the Guidelines on Regulation of Payment Aggregators (PAs) and Payment Gateways (PGs). The guidelines include a series of technology-related recommendations, which are considered mandatory for PAs and recommended for PGs. The cybersecurity requirements span a variety of sectors, including information security and IT governance, data and cryptography standards, reporting, periodic auditing, risk assessment, vendor risk management, and forensic readiness. Under the Guidelines, the entities are required to implement preventive and detective measures to ensure the security of the stored data.
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