June 14, 2011
To
All Scheduled Commercial Banks
Dear Sir,
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.
Yours faithfully
G. Srinivas
(General Manager)
