June 14, 2011
All Scheduled Commercial Banks
Directions for submission of system audit reports from CISA qualified Auditor
Please refer to our circular Ref No. DPSS.1444/ 06.11.001/ 2010-2011 dated December 27, 2010 on the captioned subject.
It is clarified that the contents of the above circular are applicable to only those entities which operate a payment system under the Payment and Settlement Systems Act, 2007. Accordingly, the requirement of system audits is not applicable where a bank/entity is a participant in various payment systems such as RTGS, NEFT, CFMS, ECS, NECS, Card payment systems (Visa, MasterCard, etc.), ATM networks (illustratively like NFS, BANCS) etc.
Please acknowledge receipt.