India Pitches FATF To Relax Rules For UPI’s Growth

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SUMMARY

Indian officials called for relaxing compliance mandates for cross-border payments via UPI in Mumbai earlier this week

The officials highlighted that SWIFT and payment networks like Visa and Mastercard are exempted from such rules

RBI governor Sanjay Malhotra told the attendees of the FATF meeting that it would be desirable to make FATF’s travel rule technology-neutral

The Centre has reportedly urged money laundering watchdog Financial Action Task Force (FATF) to relax compliance mandates for cross-border payments…



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India Pitches FATF To Relax Rules For UPI’s Growth


SUMMARY

Indian officials called for relaxing compliance mandates for cross-border payments via UPI in Mumbai earlier this week

The officials highlighted that SWIFT and payment networks like Visa and Mastercard are exempted from such rules

RBI governor Sanjay Malhotra told the attendees of the FATF meeting that it would be desirable to make FATF’s travel rule technology-neutral

The Centre has reportedly urged money laundering watchdog Financial Action Task Force (FATF) to relax compliance mandates for cross-border payments…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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