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RBI Notification: 2020-2021/58 dated 22.10.2020

The RBI, in its efforts to make doing business in India easier and more efficient, has now finalized its framework for Self-Regulatory Organisation (SRO) for Payment System Operators. An SRO is a non-governmental organization that enforces rules and standards relating to the conduct of its members to help protect customers and promote ethical and professional standards.
The central bank said the SRO shall be set up as a not-for-profit company under the Companies Act of 2013 and only regulated payment system entities such as banks and non-bank PSOs can be members of the SRO.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.