Reserve Bank of India (RBI) Governor Urjit Patel has urged payment system operators to ensure adequate attention is paid to ensuring cybersecurity and redressing customer grievances. “Operators should ensure that no corner is cut regarding cybersecurity — after all, in a network environment we are only as strong as the weakest link,” Dr. Patel said in his address at the release of UPI 2.0 by the National Payments Corporation of India (NPCI). The RBI posted the text of the speech on its website on Friday. While the RBI would continue to focus on appropriate regulations, strong infrastructure and supervision, Dr. Patel said operators ought to ensure effective redressal of customer grievances and reasonableness of user charges.
