Page 46 - MSME BULLETIN 2022 NEW LAYOUT 19082022.indd

MSME & START-UP BULLETIN, VOLUME 1, ISSUE 1, AUGUST 2022

Technological Capability Application procedure for Authorization
The TReDS should have sound technological basis The general guidelines as well as the application
to support its operations. As such, the TReDS should, format for any non-bank entity to seek quthorization
at the minimum, fulfi ll the following technological under the PSS Act for operating a payment system
requirements. is available at httos://roidocs.rbi.org.in/rdocs/
Publications/PDFs/86707.pdf
TReDS shall be able to provide electronic platform
for all the participants. Entities meeting the eligibility criteria as outlined in
the Guidelines and desirous of setting up the TReDS,
Information about bills/ invoices, discounting and may apply in the prescribed format to the Chief General
quotes shall be disseminated by the TReDS in real time Manager, Department of Payment and Settlement
basis, supported by a robust MIS system. Systems, Reserve Bank of India, 14th Floor, Central
Offi ce Building,
The TReEDS shall have a suitable business continuity
plan (BCP) including a disaster recovery site. Shaheed Bhagat Singh Marg, Mumbai — 400001,
as and when the window for receipt of applications for
The TReDS shall have an online surveillance this purpose is opened.
capability which monitors positions, prices and volumes
in real time so as to check system manipulation.

46 The Institute of Cost Accountants of India