India Pitches FATF To Relax Rules For UPI’s Growth

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…